Challenge
Compliantly sharing and processing insurance customer data from international branches is challenging due to varying regulations regarding cross-border data transfers. Traditional data protection methods like encryption and data masking may leave data vulnerable or degrade its quality.
Managing lengthy and complex approval processes for insurance data processing and sharing slows down projects and time to insight.
Solution
Anonos
Data Embassy provides insurers with technical privacy controls that protect data at rest, in transit, and in use (during processing), mitigating the risk of data breaches.
This can be achieved through the implementation of statutory pseudonymization, which combines de-identification methods and dynamically changing codes to replace direct and indirect identifiers in the original data. Unlike data masking, which simply removes sensitive information, statutory pseudonymization allows for authorized re-identification using associated keys.
This approach ensures that sensitive insurance customer data remains protected while still allowing for critical insights to be derived. The associated keys enable authorized re-identification, providing the flexibility needed for various data use cases.
Results
Faster Time to Insight
By using Data Embassy, insurers can expedite their data analytics projects and streamline both external and internal review processes, leading to a significant reduction in time to insight.
Improved Data Insights
With the newfound ability to share and process cross-border data lawfully, insurers can extend their advanced analytics to international branches, resulting in improved risk modeling and pricing strategies.
Reducing the risk of fines
The enhanced data protection and privacy controls reduce the risk of data breaches and enforcement actions.
