Data privacy is becoming a big concern for everyone, from the government to small businesses and individual workers. With the rise of technology, people are worried about how their data is collected, stored, and accessed. There’s little room for mistakes in today’s digital world.
This year, changing data privacy laws are forcing businesses to rethink how they comply. Matthieu Chan Tsin, a senior vice president at Cowbell, explains that the situation is complicated. New regulations are influenced by technology advancements, growing public awareness, and a recognition of how crucial data protection is.
In the U.S., there are laws at the state level, and recently, the federal government has started to focus more on data security as a national security issue. The Department of Data Security Program, which began in April 2025, has led to stricter scrutiny of artificial intelligence technologies. However, Chan Tsin notes that these regulations are not aligned, making it hard for businesses to know what is needed to comply.
The fast pace of AI development adds another layer of difficulty. Governments and industries are trying to keep up with a technology that is constantly changing and whose effects are not fully understood. This raises a key question: how can businesses grow and innovate while also meeting these shifting privacy requirements?
Chan Tsin describes the current landscape as full of challenges and opportunities. Cyber insurance plays a crucial role in this environment. Although it’s a relatively new product, its importance has grown significantly in the last few years. Chan Tsin likens the evolution of cyber insurance to other forms of insurance, which have been around for much longer. He emphasizes that these insurers have helped shape the data privacy landscape by creating their own standards that often go beyond government regulations.
Cowbell, where Chan Tsin works, focuses on small and medium-sized enterprises (SMEs). This allows them to see how good data practices can lead to stronger customer and employee loyalty. They encourage businesses to adopt better cybersecurity measures by offering incentives like lower premiums for those who implement recommended practices.
Cyber insurance providers are becoming unexpected champions of change, promoting better data privacy practices and security measures. Chan Tsin believes that this approach has strengthened overall cybersecurity and reduced the risk of data breaches.
Good data compliance is not just about following the law; it also builds trust and enhances a company’s reputation. Chan Tsin points out that in the close-knit circles of smaller industries, word of mouth is vital. Companies that display their compliance badges online signal to customers that they are trustworthy and committed to protecting personal information.
In today’s world, where cyber threats are common, privacy and security are no longer just IT issues. They are business issues that everyone in a company must take seriously. Chan Tsin emphasizes that all employees, starting from executives, need to understand their role in protecting data.
To create a culture of privacy, organizations must embed security into every level. This includes comprehensive policies, training programs for employees, and a commitment from leadership. Compliance is now a team effort, and everyone has a part to play in ensuring data safety.