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A Focus on Data, Best's Review, September 2018
1. A.M. BEST'S MONTHLY INSURANCE MAGAZINE
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Gates Ouimette
With a clearly defined focus on “knowing your data,” GDPR
provides a new opportunity to look at integration across different
technology processes.
Technology
A Focus on Data
IT resiliency orchestration can simplify disaster recovery management to reduce
risk and improve efficiency in data security.
GATES OUIMETTE | SEPTEMBER 2018
Fifteen years ago, “Data Blockers” (Best's Review, February
2003) suggested that insurers lever technology investments
across functionally different business requirements and
“consider integrating in some aspect, your internal security,
privacy and compliance technology functions with your
business continuity policies, processes and procedures.”
Since then, cybersecurity and privacy have remained
intertwined and more topical than ever.
While movement toward IT integration continues, the
acceleration and magnitude of security incidents and privacy
breaches has made keeping up a challenge. IT's integration
had taken a back seat, at least until the General Data
Protection Regulation took effect May 25.
GDPR requires businesses to protect personal data and
privacy of EU citizens for transactions they make, anywhere
their transactions take place.
With a clearly defined focus on “knowing your data,” GDPR
provides a new opportunity to look at integration across
different technology processes within an insurance company
and inside its cyber product and service portfolio.
The growing need to know your data due to GDPR should be
considered within the context of data as the underpinning of
all of IT. This data-centric view would see data privacy and
compliance not as innovation inhibitors but as innovation
enablers. Since data is the most critical element in a
company's systems, whether public or private cloud, on-premises or mobile, the GDPR shot-in-the-arm focus on data
applies to other technology mandates benefiting from the world of #knowyourdata.
Cybersecurity and business continuity planning exist to protect data. The more that's known about the data, the better it can