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Secure Shredding and Data Destruction Services for the Insurance Industry

As an insurance company or insurance broker, you provide your customers with the peace of mind that their assets are properly covered against loss, theft or damage. But above all, your relationship with your clients relies on transparency, confidentiality and trust.

Identity thieves have started to recognise that insurers possess large amounts of personal information about their customers, which is very attractive to fraudsters. In some cases, insurers also possess significant amounts of customer credit card and payment data [1].

Owing to many high-profile breaches, how insurance firms collect, store and destroy information is coming under increased scrutiny – especially since the introduction of GDPR – as your customers expect you to keep their private information safe and secure from the threat of a data breach.

Shred-it’s range of services from paper shredding to media and data destruction ensures the protection of confidential information, the safety of your business as well as compliance with GDPR.

Protect your business. Protect your reputation. Get Shred-it.

The impact is real.

37%

of all UK businesses reported a data breach incident to the ICO in the last 12 months

Source: Atomik Research (May 2020)

Among private businesses, the sector most likely to hold personal data about customers is insurance -

77%

Source: Cyber Security Breaches Survey 2020

Almost

9 in 10

brokers saw data breaches as a key risk to their customers in 2018

Source: Global Banking & Finance

Services we typically recommend for the Insurance Industry.

  • On-demand Shredding

    Clears out the clutter that can build up when storing financial records with a one-off shredding.
  • Speciality Shredding

    Destroys everything from employee ID cards, casino chips and playing cards to old uniforms.

Protect your data with our secure shredding services.

Not everything your organisation collects, stores, or handles is digital. When insurance policies are printed, or reports are circulated, they are at risk of getting into the wrong hands if they are not handled and disposed of properly and securely.

For that reason, every insurance company is at risk of an information breach regardless of size, type, or location. But in an industry that relies on confidentiality, the reality is that many data breaches happen not just because of inferior firewalls or weak passwords, but because of employee error.

In fact, 24% of all data breaches are said to be caused as a result of employee error [5]. So, you may be doing everything you can but one member of staff casually dropping a resolved insurance claim into a recycling bin can undo everything.

Don’t risk an information breach

In the insurance business, it’s a safe bet that every document you or your employees handle contains some form of confidential information.

Whether its customer health records or property assessments, or your own financial forecasts and actuarial tables, you have a lot of information to secure.

If you create, collect, or dispose of these types of documents, you and your organisation could be at-risk of an information breach ––

  • Payroll
  • Financial Statements
  • Balance Sheets
  • Income Statements
  • Contracts
  • Personal Financial Statements
  • Tax Filings and Internal Audits
  • Development Plans and Forecasts
  • Personal Customer Information
  • National Insurance Numbers
  • Healthcare Provider Numbers
  • Medical records and claims
  • Healthcare provider payment reports
  • Accident Claims
  • Personal Injury Reports

Protecting confidential information isn’t just good business, it’s the law.

Since the introduction of the General Data Protection Regulation (GDPR) in 2018, reported data breaches have surged by two-thirds, resulting in significant fines and subsequent reputational damage [6].

41% of UK consumers claim they will never return to a business that has had a data-breach [7].

Ensure GDPR compliance, avoid fines and protect the reputation of your organisation with our world-class  paper shredding and data destruction services.

[1] – Deloitte
[5] – 2019 Cost of a Data Breach – Ponemon Institute
[6] – Information Commissioner’s Office
[7] – Business Wire

Get informed. Stay protected.

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