How long does KBC keep my data?

KBC uses your personal data where KBC has a clear aim in mind. Once that aim no longer exists, we delete the data.

The periods for which your personal data is retained are the ones defined by law (usually until ten years after the end of a contract or execution of a transaction. For commercial claims it is thirty years after the end of a contract or execution of a transaction). For example, insurance legislation specifies that contractual and pre-contractual documents relating to insurance contracts be retained for certain periods of time (which is often five years after the end of the contract). Even if no contract is concluded, KBC is still required to keep a record of all insurance mediation acts for a period of five years. 

A longer retention period than the one required by law is in place if it is needed for exercising your and our rights.

For instance, the prescription period in relation to certain loans and advances under a life insurance policy can be up to 35 years after the contract has ended. KBC will obviously not delete your policy-related data as long as there are still outstanding claims or unpaid premiums to be collected. KBC retains health data for as long as they are required under current insurance contracts or for the acceptance of any new contracts. It is only by keeping your health data for as long as medical acceptance is possible that KBC can correctly assess the risk you want to insure under a new contract (by law, you are not required to provide again any health data you had previously provided).

For some applications, a more extended time horizon may also be necessary, such as for carrying out surveys and risk and marketing models. Some insights only get clearer once they are viewed over a longer time span. This can result in the retention period being extended by ten years on top of the standard periods. As has been stated, KBC will in all cases sever connections to individuals as quickly as possible and work only with aggregated or anonymised data.

Personal data on potential customer prospects is used by KBC for five years unless, in the meantime, there has been contact with the prospect. In that case, a new five-year period starts. Prospects can always ask for their personal data to be erased.

You can find the pdf copy of the KBC Privacy Statement here.