How do you secure clients and prospect data in the finance/insurance sector?

Protect sensitive data in finance and insurance. Declare a DPO, use compliant tools and adopt GDPR prospecting to boost client trust.

Securing clients and prospect data is a priority for organizations in the finance and insurance sectors.

Sensitive personal information, such as consumer data, is a key concern, with potentially devastating consequences if leaked.

Setting up a Data Protection Officer (DPO) is becoming a necessity, bringing effective coordination and verification to ensure compliance with the General Data Protection Regulation (GDPR) and reduce the risk of data breaches.

That's what we're going to find out together in this article dedicated to data security in finance and insurance.

Declare a DPO for full GDPR compliance

 The appointment of a DPO is the key step in strengthening data security for companies in the finance and insurance sectors.

The DPO plays an essential role in coordinating actions to protect personal data. By carrying out all the necessary steps to ensure GDPR compliance, the DPO establishes a secure environment.

GDPR compliance is not just a formality. By carrying out audits, gathering legal documents and ensuring strong vigilance, the DPO provides protection against data leaks.

Would you like to download the guide dedicated to the finance and insurance sectors?

Discover now the guide on GDPR issues from banking organizations and insurance companies

Download

Use compliant tools and services

📋 When you want to use tools made in-house, it's imperative to subject them to a thorough GDPR audit. This encompasses not only verification of technical security, but also a full legal assessment to ensure the legality of processing carried out on these tools in question.

For example, is it necessary to track a person in the context of a mobile or field-based job?

Is it useful to ask a person's gender for a home delivery tool?

In the case of external tools, collaboration with service providers requires particular vigilance. The DPO must be involved in the audit of service providers to ensure that they implement all the necessary measures to secure your clients' data. This approach helps reinforce your clients' confidence in the protection of their data.

Conduct compliant sales prospecting

To carry out commercial prospecting without incurring penalties, you must comply with GDPR. The main objective is to remain compliant with regulations so as not to jeopardize potential business opportunities.

When looking for prospects, it is therefore crucial to follow a set of basic rules: 

• Inform your clients and prospects: Commercial prospecting by e-mail is possible, but people must first be informed. They must also give their prior consent. You must publish a clients privacy policy, a cookie privacy policy, a cookie banner, information on collection forms and a compliance label on your website or e-commerce site.
• Respect Opt-out: You must allow your prospects to unsubscribe and inform them of their right to object to this use at any time, simply and free of charge. This can be done at the time of data collection, during prospecting communications or by contacting the company directly.
• Check your technical service providers: You need to check your technical service providers who process personal data on your behalf (emailing tool, CRM...) and verify whether or not they are located within the EU.
  
• Respect Data retention periods: In both B2B and B2C sectors, data may be retained for 3 years from the last interaction with the prospect or client, for the purposes of commercial prospecting.

By integrating these practices, companies strengthen their reputation and establish trust with potential clients.

✅ Securing clients and prospect data in sectors such as finance and insurance is an obligation. By following these measures, including declaring a DPO, using compliant tools, and carrying out commercial actions in full compliance, companies like yours can not only meet regulatory requirements, but also strengthen the trust of their clients. Data protection is thus becoming an essential pillar of the reputation and sustainability of companies in these sensitive sectors.