GDPR: Implications to Insurance & Software Firms & the Kenyan Equivalent
| date: August 29th, 2018
In May 2018, the General Data Protection Regulation (GDPR) directive became enforceable across the European Union(EU). The directive whose purpose is to harmonize data privacy laws across Europe has the key aim of protecting and empowering all EU citizens data privacy by instituting citizen’s rights in controlling their personal data as well as simplifying the regulatory business environment by adopting a unified regulation across the EU.
While this is an EU directive concerning EU citizens and EU companies, it should also be a concern for those who are neither EU citizens nor EU companies.
First and foremost, because GDPR affects all companies processing and holding the personal data of data subjects residing in the European Union regardless of the company’s location.
But also because the impact of globalization is such that eventually even those not included in the criteria above, will sooner or later have to comply to this kind of rules as other countries adapt the same law as many already are.
That is why in this article we seek to examine the what the GDPR directive is and what it means to our respective industry – insurance and software. Then we will look at any local laws that are already addressing the same things as the GDPR directive.