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The crucial first step in privacy and data protection regulatory compliance is to understand what constitutes sensitive data, where it is stored, and how it is used. If you don’t know what sensitive data you have, where it is, and why you have it, you cannot apply effective policies and controls to protect it.
Insurance firms must ensure that their data is safe as they collect and process significant amounts of data belonging to their customers. This includes Personally Identifiable Information (PII) and also Protected Health Information (PHI). They of course have sensitive data of their employees and company information which they must protect. We know that confidential data is the core of the insurance business. This highlights the importance of effectively collecting and analyzing this data even more, which leads to competitive advantages.
Thales CipherTrust Data Discovery and Classification enables you to efficiently locate structured and unstructured regulated data across the cloud, big data, and traditional data stores in your enterprise. A single pane of glass allows you to get a complete understanding of your sensitive data and its risks, so you can make better decisions about closing your gaps, prioritizing remediation, securing your cloud transformation and third party data sharing.
