7 Reasons GDPR Will Benefit Your Business
There is a huge amount of information about GDPR and navigating it required sitting in a cupboard with a large amount of coffee and not seeing my loved ones for a couple of months (just kidding), but I think there are also some positives to take from the changes which insurance brokers could be leveraging and turning into conversations with their clients;
1. Confidence
Insurance sometimes get a poor press but by adhering and adopting clear processes brokers can build trust and confidence with clients and help them manage their data.
2. Clean Data
Businesses want to develop engaged audiences, by making sure that everyone they communicate with has given their explicit consent to be contacted by you so by default these should be people who are looking for your services and are ready to be engaged.
3. Processes
The regulation requires organisations to have clear policies and procedures to protect personal data, this must be a good thing.
4. Security
By reviewing your data security and monitoring the processes you adopt to make sure data is secure and improve on this security where required has got to put you at an advantage over competitors and make you less likely to suffer a data breach.
5. Adopt New Technology
Is it time to move to the Cloud, invest in new audit software or just improve a process with a little automation, while you are reviewing how much data you store, who and where it is stored now could not be a better time to see if there is a more efficient way of doing things.
6. Housekeeping
Think of the new requirements as the perfect time to have a spring clean, are you storing data that is out of date, obsolete or data you would not be able to hold under the GDPR regulations? Now is the time to purge this data, you could find out you are paying to store data that you don’t need any more.
7. Data Intelligence
Through the process of reviewing your data, you will have a much greater insight into how information is collected, stored, processed and transmitted giving you a much clearer view of how efficient your processes are and provide great insight into running your business better and attracting and keeping more clients.
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I hope you have found this useful? If you have any comments or suggestions please feel free to leave a comment. This is still an evolving topic so I will be trying to update it as more information becomes available.
