Allianz Life Reports Massive Data Theft

One of the biggest insurance companies in America has been shattered by a huge hack.

According to Minneapolis-based Allianz Life, a “malicious threat actor” obtained access to a third-party cloud-based system that the firm uses on Wednesday, July 16.

Numerous sources claim that hundreds of thousands of customers’ personal information was compromised.

On Saturday, Allianz Life Insurance Company of North America acknowledged that hackers had gained access to private data belonging to most of its 1.4 million US clients, as well as financial advisors and a few staff members.

According to the Minneapolis-based insurer, a malevolent threat actor gained access to a third-party cloud-based system that the business employed on Wednesday, July 16.

Using a social engineering method, the threat actor was able to gather personally identifiable information about most of Allianz Life’s clients, financial professionals, and a few Allianz Life staff, the business said in a statement that was published by the Daily Mail.

Allianz Life made it clear that the incident only affected the third-party platform and that none of its internal systems were compromised.

The business claimed to have alerted the FBI and taken prompt action to mitigate the intrusion. Allianz Life has started contacting individuals impacted while an inquiry is underway. The insurer emphasized that other Allianz businesses across the world are not affected by the issue; only Allianz Life in the US is.