GDPR (General Data Protection Regulation) is in the news since it took effect in Europe on May 25th, and is expected to create a ripple effect that impacts U.S.-based organizations, regardless of whether they have European operations. GDPR was enacted to further protect the rights of individuals in controlling how their personal data is shared. Many expect similar regulations to arrive in the U.S. soon along with stiffer financial penalties for organizations that fail to comply. Related: How to protect customer data while complying with GDPR But there are those in the insurance industry who see this as the 'starting gun, not the finish line. They urge companies to embrace GDPR as an opportunity to challenge firms to build tools and processes to maintain smarter marketing and more personalized and predictive on-going communications with customers. The following slides showcase answers to some important questions about how GDPR will impact the insurance industry. Jeff Brown is executive vice president of sales at Imprezzio, a technology company that provides sales software to over 150,000 users with several of the largest carriers in the nation, and helps insurance agents cope with all applicable laws and regulations in the United States and Europe. He can be reached by sending email to [email protected]. See also: GDPR is here: Mess up and we'll fine you, warns EU privacy chief Think GDPR doesn't apply to you? Don't be so sure The GDPR cyber insurance checklist
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