Philippines to modernise insurance data privacy practices

IC and NPC will jointly develop guidelines to ensure responsible execution.

The Philippines’ Insurance Commission (IC) and the National Privacy Commission (NPC) have entered into an agreement to promote the adoption of Privacy-Enhancing Technologies (PETs) across the industry and related sectors, including pre-need companies and health maintenance organizations (HMOs). 

“This partnership is designed to strengthen consumer protection, improve data privacy compliance, and uphold the principles of the Data Privacy Act (DPA),” the press release said.

Insurance Commissioner Reynaldo A. Regalado underscored the importance of PETs in modernising the sector’s privacy practices.

“The insurance industry processes vast amounts of personal data daily through activities such as policy underwriting, claims processing, and customer service transactions. As the industry's regulator, we are committed to strengthening privacy measures to protect consumer information and uphold the integrity of the insurance sector," the commissioner said in the release.

Through the understanding, the IC and NPC will jointly develop guidelines to ensure the responsible adoption and implementation of PETs. 

These guidelines will align with the DPA and other applicable regulations whilst reflecting the unique needs of the industry.