On August 15, 2023, Llinks successfully held a seminar on data protection for insurance companies and insurance intermediaries in Beijing. The seminar discussed compliance issues related to the collection, use, transfer and export of personal information in insurance-related scenarios, and explored the challenges and responses to the use of algorithms and artificial intelligence in the insurance industry.
Mr. Wang Yi, a partner of Llinks' Beijing office, hosted the seminar and gave an opening speech. Mr. Wang pointed out that, with the establishment of laws and regulations related to cybersecurity and personal information protection, the insurance industry has not only considered the traditional legal issues, but also gradually paid attention to cybersecurity and personal information protection.
In the first half of the seminar, Mr. Yang Xun, a partner of Llinks, who focuses on technology law practice, shared his views on the application of data, modeling and artificial intelligence technologies in the insurance industry and risk prevention, and shared the issues of intellectual property rights, protection of personal information, and civil liabilities that may be brought about by the application of data, algorithms and artificial intelligence technologies in the insurance field. He also introduced other supervision focuses that may be involved in the use of such technologies in the insurance field.
After the tea break, with "Insurance Industry's Protection of Personal Information and Supervision of Data Exports" as the topic, Mr. Yang Xun and Mr. Xia Yuwei discussed the requirements of personal information protection laws on the processing of personal information about policyholders, the insured and the beneficiaries, analyzed the legal requirements on transfer of personal information in KYC, reinsurance and reinsurance scenarios and shared the practical experience in security assessment for outbound data transfers and filing of the standard contract for outbound transfer of personal information.
The seminar attracted dozens of representatives from state-owned and foreign-funded insurance companies, reinsurance companies, insurance intermediaries and the Internet insurance industry. The seminar was followed by a lively discussion on personal information protection, data export and IT application. With the development and implementation of cyber security and data protection regulations, as well as the application of artificial intelligence technology in the insurance industry, issues related to privacy, intellectual property rights and information security will become important aspects of risk management in the insurance industry.
