Data processing is key for insurers and consumers
Insurers recognise the importance of data protection, since data processing lies at the very heart of their business. Insurers collect and process data to analyse the risks that individuals wish to cover and this allows them to tailor their products accordingly.
Data processing also plays an essential part in evaluating and paying policyholders’ claims and benefits as well as in detecting and preventing fraud.
Insurance Europe therefore supports the EU institutions’ objective of further harmonising existing, fragmented EU data-protection legislation. It has produced an infographic that illustrates the current and future regulatory framework under which European insurers collect and process data.