Insurance EuropeInsurance Europe
Data protection

Data processing is key for insurers and consumers

Insurers recognise the importance of data protection, since data processing lies at the very heart of their business. Insurers collect and process data to analyse the risks that individuals wish to cover and this allows them to tailor their products accordingly.

Data processing also plays an essential part in evaluating and paying policyholders’ claims and benefits as well as in detecting and preventing fraud.

The new European data protection regulatory framework — the General Data Protection Regulation (GDPR) — entered into force in May 2018. It introduces new requirements for insurers, provides enhanced rights for individuals, strengthens data authorities’ powers and establishes high upper limits for fines in cases of non-compliance.

Insurance Europe has published infographics with overviews of insurance consumers’ main rights and insurers' main obligations under the GDPR. 

 

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2 November 2017
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Georgia Bakatsia
Georgia Bakatsia
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William Vidonja
William Vidonja
Head of conduct of business