“ Insurers are being pushed into increasing digitisation and automation and , unless cybersecurity and privacy issues are considered in detail as part of project planning , organisations tend to leave large holes in what should be secure systems ”
ALAN CALDER CEO , GRC INTERNATIONAL GROUP
According to McKinsey ’ s survey , not asking customers to provide irrelevant data and reacting quickly and positively to hacks were the two highest-scoring trust markers – the only steps that insurers could take that resonated with more than half of McKinsey ’ s respondents .
Joe Diamond , VP of Product Strategy EMEA for identity platform Okta , says : “ When the General Data Protection Regulation ( GDPR ) first came into force in
2016 , it marked the beginning of similar laws protecting individuals ’ right to privacy and consumers ’ control over their personal data . Within Europe … a clear majority ( 55 %) of respondents to Okta ’ s Digital Identity survey voiced their support for this legislation .
“ Consumers now truly understand the value of their data and believe its privacy should be protected , but this doesn ’ t mean they ’ re unwilling to share their information . In general , people are becoming more inclined to exchange their data for money , goods , services or other benefits when they believe they ’ re getting something
insurtechdigital . com 61