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🛡️ '''Patch management''' is the systematic process of identifying, testing, and deploying software updates — known as patches — to fix vulnerabilities, correct bugs, and improve the security posture of technology systems. Within the insurance industry, patch management is a critical element of [[Definition:Cybersecurity | cybersecurity]] governance, both as an operational discipline that carriers and [[Definition:Insurtech | insurtechs]] must practice internally and as a key risk factor that [[Definition:Underwriting | underwriters]] evaluate when assessing applicants for [[Definition:Cyber insurance | cyber insurance]] coverage. Regulators across major markets, including the New York Department of Financial Services under its Cybersecurity Regulation and the European Insurance and Occupational Pensions Authority through its guidelines on information and communication technology security, increasingly expect insurers to maintain robust patch management programs.

🔧 A well-functioning patch management program involves continuous monitoring of vendor advisories, vulnerability databases, and threat intelligence feeds to identify which patches are relevant to an organization's technology environment. Once a patch is identified, it must be tested in a controlled setting to confirm compatibility before being deployed across production systems — a process that can be particularly challenging for insurers running legacy [[Definition:Policy administration system | policy administration systems]] or older [[Definition:Claims management system | claims platforms]] that may not be easily updated. Automated patch management tools have become standard in larger carriers and [[Definition:Managing general agent (MGA) | MGAs]], but the diversity of technology stacks across the insurance value chain — from core systems to third-party integrations and [[Definition:Application programming interface (API) | APIs]] — means that maintaining comprehensive coverage requires ongoing vigilance and coordination.

📊 From an underwriting perspective, patch management discipline is one of the most telling indicators of an applicant's cyber risk profile. Cyber insurance underwriters routinely ask about patching cadence, the percentage of systems running supported software, and the average time to deploy critical patches. Organizations with poor patching records — leaving known vulnerabilities unaddressed for weeks or months — represent significantly elevated [[Definition:Loss | loss]] potential, particularly from ransomware attacks that exploit publicly disclosed vulnerabilities. For insurers themselves, the reputational and financial consequences of a data breach stemming from an unpatched system can be severe, making patch management not just an IT function but a [[Definition:Risk management | risk management]] priority that often receives board-level attention.

'''Related concepts'''
{{Div col|colwidth=20em}}
* [[Definition:Cyber insurance]]
* [[Definition:Cybersecurity]]
* [[Definition:Vulnerability assessment]]
* [[Definition:Information security]]
* [[Definition:Risk management]]
* [[Definition:Operational resilience]]
{{Div col end}}

Definition:Patch management - Revision history

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