NPC and IC signed MOA to strengthen privacy practices in insurance industry
MANILA CITY - The National Privacy Commission (NPC) and Insurance Commission (IC) signed a Memorandum of Agreement (MOA) to facilitate collaboration in the development and issuance of joint guidelines and advisories on the use of Privacy-Enhancing Technologies (PETs) in the insurance industry. The signing ceremony, held on 04 December 2024, was led by Privacy Commissioner Atty. John Henry D. Naga and Insurance Commissioner Atty. Reynaldo A. Regalado.
The MOA will help provide direction to IC-regulated entities on the adoption and implementation of PETs in compliance with the Data Privacy Act (DPA).
Privacy Commissioner Naga emphasized the importance of this collaboration, stating, “The insurance industry involves the processing of large volumes of personal data in various transactions, making it crucial to implement strong privacy measures. The guidelines resulting from this collaboration will help insurance entities improve their privacy practices, and more importantly, foster public trust in how the personal data of policyholders is handled.”
“The adoption of PETs will optimize insurance processes by ensuring privacy is maintained while enhancing operational efficiency. The NPC looks forward to further collaboration with key industries, especially now that personal data processing has become more integral to business operations and services than ever before,” the Privacy Commissioner added.
Key areas of collaboration
Under the MOA, both the NPC and the IC will collaborate in knowledge exchange and jointly draft issuances on the use of PETs in the insurance industry. The agencies will also engage relevant stakeholders, including insurance companies, data protection officers, and technology experts, to ensure that the issuances are practical, applicable, and promote the responsible use of PETs.
Additionally, the NPC and the IC will monitor the compliance of insurance entities with the issued guidelines and, when necessary, conduct audits or require reports on the use of PETs. Both agencies will ensure that the use of PETs and the processing of personal data fully comply with the DPA, its Implementing Rules and Regulations (IRR), NPC issuances, and other applicable laws.
In addition to these efforts, the NPC and the IC will collaborate on training and capacity-building initiatives, as well as public awareness campaigns to educate IC-regulated entities and stakeholders about the responsible use of PETs and the legal obligations under the DPA.
Roles and responsibilities
Under the terms of the MOA, the NPC will play a central role of providing technical expertise on data privacy in relation to the use of PETs. The NPC will also lead the development of the data privacy framework of the issuances and evaluate the compliance of regulated entities with the DPA.
On the other hand, the IC will lead the regulation of the insurance industry's adoption of PETs and provide technical expertise on insurance, pre-need, and HMO (health maintenance organization) matters to the NPC. The IC will oversee the publication of the issuances for public and private information and monitor the compliance of regulated entities with the issuances. Both agencies will coordinate with each other in the promulgation and enforcement of the issuances.
PETs are emerging technologies designed to minimize the use of personal data and ensure the protection of privacy by allowing data processing without exposing sensitive or personally identifiable information.
The signing ceremony was also attended by NPC Deputy Privacy Commissioners Atty. Nerissa N. De Jesus and Atty. Leandro Angelo Y. Aguirre, and IC Deputy Commissioner Atty. Martin John S. Yasay. The MOA took effect upon its signing on 04 December 2024.
For more information visit https://privacy.gov.ph/ and https://www.insurance.gov.ph/.
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