Data protection and valorisation – Unipol Data Vision
Today data (personal data relating to behaviour, decisions and movements, as well as data relating to organisations and companies) is increasingly viewed as a starting point for the creation of products, services and innovative solutions.
There are huge social and economic development opportunities linked to the availability of data.
To fully embrace these opportunities, it is necessary to establish a transparent and balanced relationship between data subjects and those who use their data. In particular, data “owners” must be aware of the purposes for which their data is collected and the ways it is used, so they can be sure that their data is adequately protected. Then, the value that is created through data analysis and processing must be shared, so that data subjects can benefit from the same, directly or as a part of the community.
For an insurance company, the use of data is necessary for the performance of its social role through the aware assumption of risks, and allows the company to calculate suitable premiums that make the handling of any claims sustainable. The increasing amount of data that insurance companies can collect and analyse will lead to an even greater ability to protect their customers against risks in an accessible way.
The Unipol Group retains large amounts of personal data relating to various moments in peoples’ lives, their behaviour, the resources they have available, their health, and this will have a growing impact with the increasing spread of new connected devices (from black boxes in cars to home automation); this information is precious and must be handled carefully, not only to protect privacy, but also in order to share the value that can be generated from the advanced management of the same, for example by improving prevention.
The Unipol Group therefore wishes to share the commitments it intends to pursue in this area, approved by the Board of Directors in the “Personal data protection and valorisation policy”, increasingly implementing the Group’s system and acting transparently with customers and all stakeholders, with the aim of strengthening the trust they place in the company.