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.
In July 2015 AXA set up an advisory board of independent experts on the issue of data privacy. The Advisory Panel meets twice a year in Paris.
The aim of this panel is to provide food for thought to the Group teams on the strategy and governance of AXA in this area, and also help the Group to position itself in the public debate on this topic.
Composition of the Data Privacy Advisory Panel
The advisory committee brings together experts on privacy data, including academics, members of think tanks or former members of regulatory bodies.
The Data Privacy Advisory Panel is composed of:
Each member participates as an independent expert.
The role of the Data Privacy Advisory Panel
The exchanges within the panel aim to discuss our actions and our commitments and help us establish a relationship of trust with our customers.
Three main topics are discussed:
Among the issues discussed during the sessions is the question of trust in a world of digital interaction, the use of data in the insurance industry, international exchanges of data in a context of different national regulatory frameworks, the construction of a digital single market and its impact for AXA and its customers.