Every day the world creates 2.5 quintillion bytes of data, and this amount is constantly rising. This brings new opportunities for companies to provide value-added personalised products and services, but also the overarching responsibility to protect the personal data entrusted by their clients.
At AXA we decided to step up on our data privacy commitments because we feel this is a real expectation from society at large, and because our ambition is to build a long-lasting and trusting relationship with our clients.
As a consequence, we set up an internal team to work on establishing a clear, transparent, and responsible position regarding our clients' personal and sensitive data. Comprised of data experts, business and marketing executives, but also legal practitioners and corporate responsibility officers, the team leveraged help from academics and independent advisors to devise an approach which aligns business interest with those of customers.
AXA is the first insurance Group to have approved Binding Corporate Rules (BCR), an internationally recognized standard providing adequate protection of personal data in multinational companies, and is in the process of implementing them. These rules were reviewed and approved by 16 data protection authorities across Europe. BCR are a data privacy contractual framework setting minimum measures for the protection of personal data (data of customers, employees, and other stakeholders) obtained in the course of business when such data is transferred in multinational companies.
AXA Corporate Solutions, as a company of the AXA Group, has joined these rules and is strongly committed to the safeguard of personal data. AXA Corporate Solutions has a Data Privacy Officer at global level and a network of Privacy correspondents throughout the Group to oversee data safety.
A project is being rolled-out to ensure compliance with the General Data Protection Regulation is timely achieved. High focus is put on the protection of sensitive personal data entrusted to us and AXA Group review has in particular evidenced adequacy of procedures and controls in place in our UK international hub.