Bajaj Allianz Life Insurance Company - Insurer Innovation Award 2024
Cookie Consent was Only the Beginning of Your Privacy Journey
1. 1
1
Thank You for Joining “Cookie consent was only the beginning of your
privacy journey”
● We will be starting a couple minutes after the hour
● This webinar will be recorded and the recording and slides sent out later today
● Please use the GoToWebinar control panel on the right hand side to submit any
questions for the speakers
4. 4
4
Agenda
● Getting started with privacy - cookie consent alone is not enough
● Why consider privacy compliance using a broad compliance program?
● Taking a framework based approach to compliance
● Working towards full compliance: how TrustArc helps
● Q&A
16. 16
16
How are Organizations Solving for
Privacy Management Today?
Today’s approaches require time consuming and manual processes.
1.
Understand new
law requirements
2.
Rely on point-in-time
assessments to assess
and take action
3.
Individually update
each policy, practice,
and program
17. 17
17
Each regulatory update requires
repeating the process for every
policy, practice and program.
A tedious cycle.
18. 18
18
Benefits of using a framework approach.
Consistent management of
multiple regulatory requirements
New or updated requirements are
efficiently integrated
with a baseline framework
Can reduce enterprise risk
A consistent organization-wide standard
for articulating risk can simplify the
process for identifying new risks
Creates a single source of truth
This single guide makes it easier to build
baseline documentation and prioritize
actions
Demonstrates industry alignment
Adhering to an industry framework
indicates a transparent commitment to
established best practices
19. 19
19
Three Pillars to support evolving privacy management.
BUILD: Design, establish
and manage a program to
ensure effective governance,
risk management, policies,
processes and
accountability.
IMPLEMENT: Define data
needs, manage data flows
and third parties, address
individual rights, provide data
security, data quality and
transparency.
DEMONSTRATE: Monitor,
evaluate, and report on
compliance effectiveness,
risk and maturity.
20. 20
20
Nearly Half (48%) of Firms Have a Single Global Privacy Strategy
Source: IAPP-EY Annual
Privacy Governance
Survey 2021
21. 21
21
Frameworks Facilitate Better Comparisons.
Framework Element GDPR LGPD CCPA PIPL HIPAA Security Virginia CDPA
Integrated Governance
Risk Assessment
Resource Allocation
Policies and Standards
Processes
Awareness and Training
Data Necessity
Use, Retention, and Disposal
Disclosures to 3rd Parties & Onward Transfer
Choice and Consent
Access and Individual Rights
Data Integrity and Quality
Security
Transparency
Monitoring and Assurance
Reporting and Certification
22. 22
22
Frameworks de-duplicate and reduce cycle time.
An unclear picture of how multiple
requirements align
Law Citation 1
Mapped to Control 1
Law Citation 2
Mapped to Control 1
Law Citation 1
Law Citation 2 Law Citation 3
Law Citation 5
Law Citation 4
Law Citation 3
Mapped to Control 1
Law Citation 5
Mapped to Control 1
Law Citation 4
Mapped to Control 1
A Single Framework
Common Control
Organized, but requires
repeated efforts
A streamlined requirement
26. 26
26 26
Privacy isn’t security.
Security
Protecting data
from threats
Privacy
Protecting
people’s rights
27. 27
27 27
Increasingly, privacy is a purchase driver for consumers.
Is my personal
information being sold?
Is it secure?
Does this company
protect my privacy?
28. 28
28 28
Compliance as a Baseline Not a Finish Line
Regulation
Peak
Privacy
Compliance
of people report
that data privacy is
a concern.
view data privacy
as a human right.
97%
87% Customer Expectation of
Data Privacy
Mountains
34. 34
34 34
PrivacyCentral dynamically monitors
where your company stands in relation
to quickly changing privacy laws — and
gives you real-time, actionable insights
on how to comply.
36. 36
36 36
PrivacyCentral…
Is built on unmatched expert
legal frameworks from
Nymity.
Built for your business...
Is customized to your
business based on simple
inputs.
Dynamically monitors
laws so you don’t have to.
Prescribes and manages the
actions needed to comply.
40. 40
40
Thank You!
See http://www.trustarc.com/insightseries for the
2021 Privacy Insight Series and past webinar
recordings.
If you would like to learn more about how TrustArc can support you with
compliance, please reach out to sales@trustarc.com for a free demo.