Cookies enable core functionality such as security, network management and accessibility. You may disable these by changing your browser settings, although this may affect how the website functions.
Analytical/performance cookies help us to improve our website by collecting and reporting anonymous information on how you use it (for example, which pages are most frequently visited).
Today, we’re sponsoring a GDPR masterclass for UK insurers with our partners One Connected Community and Microsoft. Learn how your business can use GDPR as an opportunity to rethink customer data management and create trust, loyalty and stronger customer relationships to leapfrog your competition in our new whitepaper.
General Data Protection Regulation (GDPR) compliance is a top priority. It’s a necessary evil that organisations must go through.
It’s certainly not all doom and gloom though – getting it right is a fantastic opportunity for a powerful and positive change for your business, your customers and the image of the insurance industry. And, if managed well, GDPR can be a springboard to rethink customer data management and create trust, loyalty and stronger customer relationships to leapfrog your competition.
Innovation must come from the market, not the regulation. But GDPR acts as a trigger. It has accelerated the need to consider privacy of personal data in all aspects of insurance. Businesses that simply comply (with limited strategic intent) may fall behind, whereas those who consider compliance within their overarching strategic objectives can build long term trust for the business and the industry alike.
A customer-focused strategy is the best way to respond to GDPR. It’s an opportunity to shift customer expectations around transparency, consent and value. But who will raise the bar?