Third of UK consumers may withdraw data
When the European Union’s new General Data Protection Regulation (GDPR) comes into effect next May, 33 per cent of consumers say they will exercise their right to have their personal data removed from insurance companies’ systems. The new legislative change will give UK citizens new rights and powers over how their data is handled, and will mean data can be deleted or viewed at the consumer’s request. Analytics company SAS conducted a survey of over 2,000 UK consumers and found that overall, 48 per cent plan to exercise their rights over their data.
Over one in five consumers aged between 45 and 54 are planning on removing their data within the first month of the GDPR being in force, while this number gets lower the younger consumers get.
Analyst Garter has warned that, by the end of 2018, at least 50 per cent of companies will not be fully compliant with the changes.
“Finding customer zero is a huge challenge for some organisations,” said Charles Senabulya, vice-president and country manager for SAS UK & Ireland. “Personal data is often stored in thousands of databases and organisations will need to find, evaluate and categorise every piece of data relating to each customer to ensure compliance. Overcoming this challenge presents an opportunity for organisations as they form a new type of relationship with their customers that is bound by integrity, understanding and respect for their individual choices. We are entering a new data era that requires a firm grip of customer data. One that rewards consumers as well as protects their right to privacy.”