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RESEARCH AND BRIEFINGS

Data Is an Asset: It Deserves Protection; It Offers Opportunity

 


There is now less than one year to go until the General Data Protection Regulation (GDPR) comes into force, which will bring about the most significant change to data protection law in Europe in 20 years.

Modern data protection legislation is overdue given the pace of change witnessed since the internet boom and the birth of social media. While much focus has been placed on the requirements and increase in penalties the GDPR will bring, Marsh suggests that those firms that embrace the GDPR as a means to improve their data management strategies – as opposed to a costly, compliance-driven exercise – stand to benefit from greater client trust.

Marsh’s report, Data is an asset: it deserves protection; it offers opportunity, examines these opportunities and explores how companies can view the regulation as a way to regain customers’ trust.  It highlights how forward-thinking firms can leverage the GDPR’s framework to improve cyber security, strengthen their organisational risk culture, and reduce data protection costs, while ultimately enriching their customer value proposition.