ISO 27001 Compliance in Munich

Munich is the undisputed insurance and reinsurance capital of the world, home to Allianz (€150B+ in revenue), Munich Re (the world's largest reinsurer), and Versicherungskammer Bayern. The city also hosts major banks like HypoVereinsbank (UniCredit) and BayernLB, alongside a booming InsurTech scene with companies like wefox, FRIDAY, and Getsafe. Munich's unique combination of traditional insurance giants and tech startups creates diverse compliance needs.

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60+
Insurance companies
€152B
Allianz global revenue
80+
InsurTech startups
48,000+
Insurance sector employees

Why ISO 27001 matters in Munich

ISO/IEC 27001:2022 is the international standard for information security management systems (ISMS). With 93 controls across organizational, people, physical, and technological themes, it provides a systematic approach to managing sensitive information. ISO 27001 certification is increasingly a prerequisite for doing business in the EU financial sector.

DORA applies to insurance and reinsurance undertakings just as it does to banks. For Munich's insurance sector β€” managing trillions in global risk exposure β€” digital operational resilience is critical. Munich Re alone covers cyber risks worth billions, making their own ICT resilience a matter of systemic importance. BaFin's VAIT requirements (Versicherungsaufsichtliche Anforderungen an die IT) complement DORA with insurance-specific IT governance rules. The local InsurTech ecosystem, processing sensitive health and property data, also faces stringent GDPR and DORA obligations.

Supervisory Bodies

BaFin, EIOPA

Key Industries

  • Insurance & Reinsurance
  • InsurTech
  • Private Banking
  • Automotive Finance

Notable financial institutions in Munich

AllianzMunich ReVersicherungskammer BayernHypoVereinsbankBayernLBwefoxFRIDAYGetsafe

ISO 27001 Key Requirements

Information Security Management System (ISMS) implementation
Risk assessment and treatment methodology (Clause 6.1)
93 Annex A controls across 4 themes (2022 version)
Internal audit program (Clause 9.2)
Management review and leadership commitment (Clause 5)
Continuous improvement via Plan-Do-Check-Act cycle

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