The Chartered Insurance Institute (CII) has called for vulnerability data to be shared across the insurance and personal finance distribution chain to meet Financial Conduct Authority (FCA) requirements.
The industry body has released a report summarising a roundtable held in May around "unlocking outcomes". This report included calls for a shift from compliance-focused approaches to outcome-driven data sharing, detailing a need for "common standards" and "an ecosystem that promotes sharing data to create customer value". According to the CII, there are widespread misconceptions about GDPR compliance, which are addressed in the report, with many firms displaying "excessive caution". The body said that explicit consent is not always required, adding that "legitimate interest" and "s...
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