b'Successful Collaboration With a nationwide standard, Best Interest at the State Level consumers across states will enjoy We worked closely with the NAIC to incorporate a Best Interest standard into thestrong, harmonized protections. associations Suitability in Annuity Transaction Model Regulationsupporting anThat goal requires a coordinated approach that is similar to the SECs.effort involving all of our member companies and key allies, including Our industry opposes efforts to implement a fiduciary-only approach that deniesthe National Association of Insurance people access to financial products they need. To date, ACLI has successfullyand Financial Advisors (NAIFA) and opposed such efforts in Maryland and is actively engaged against initiatives inThe Association of Advanced Life New Jersey, Nevada, and Massachusetts, demonstrating our commitment toUnderwriting (AALU).consumer choice through a Best Interest standard.A Priority: Privacy and CybersecurityFor generations, our industry has respected and maintained the privacy and security of personal information. Our record of responsible stewardship can serve as a model as policymakers seek to protect consumers in other areas.Our industry has an enduring commitment to safeguarding consumer informationand fastidiously supports and abides by laws protecting the disclosure of personal information. Given the sensitive nature of health and financial information, customers are informed when information is collected about them for underwriting, or if the security of their personal information is breached. As technology advances and new issues around privacy emerge, we will continueOur Commitment toto advocate for unified, thoughtful approaches to new privacy and security laws thatSafeguarding Informationensure we can maintain transparent, effective relationships with consumers.Developed and adopted a new privacy policy regarding federal Task Force on Big Data pre-emption I mplemented principles that will Like companies across many industries, our membershelp guide us as we work withare embracing the power of big data. Big data helpsall levels of government accelerate the underwriting processprovidingINNOVATIONWorked with federal and state qualified consumers with financial protection fasterregulators to see that any new than ever before. That can provide a better experienceFOR FINANCIALdata privacy regulations reflect for consumers by allowing them to skip elements of theour strong record and are underwriting process, and to receive coverage quicklyPROTECTION uniform across jurisdictions. and noninvasively. It also helps our companies work more efficiently and effectively. Our newly formedBig Data Task Force helps bring ideas to the table.ACLI2019 ANNUAL REVIEW 5'