The Data Security or Data Protection Officer is an increasingly vital role within the insurance sector, especially following the implementation of GDPR. Data minimisation is a key principle of the GDPR. The idea is that by reducing the volume of information you hold on employees and customers, you can reduce the risk of that data being accidentally leaked or stolen, streamline data protection processes and even reduce data protection costs.
This short guide sheds light on the hidden data protection issues when paying suppliers and highlights how Optal’s Virtual Account Numbers (VANs) can be used by insurers to:
• Mitigate the risks of a data breach occurring.
• Achieve regulatory compliance.
• Provide a better experience for claimants.