The insurance industry has become increasingly impacted and reliant on digital technologies, for both internal operations and customer-facing programs. While technology has undoubtedly made processes faster and customer self-service more widely available, all of this data means insurers and their customers are susceptible to security breaches.
That’s why many state and federal governments have enacted new data privacy laws and legislation — not only to protect everyone’s data from hackers, but also to protect consumers from having their data sold and shared without their permission. As such, staying in compliance and keeping customers’ data safe must be a top priority for all insurers. Here is a breakdown of some of the most important legislation that will impact insurance operations, and the steps insurers can take to protect data privacy.