Protection of Personal Information
Policy Trader is a division of Yield Capital (Pty) Ltd, an authorised Financial Services Provider, FSCA Licence Number 30787.
Policy Trader respects your right to privacy and is committed to processing personal information lawfully, reasonably and securely in accordance with the Protection of Personal Information Act, 4 of 2013 (“POPIA”) and other applicable legislation.
This Privacy / POPIA Policy explains how we collect, use, store, share and protect personal information and the rights available to you in relation to your personal information.
Personal information we may collect
We may collect and process personal information that is reasonably required to provide our services, assess policies, evaluate transactions, communicate with clients and interested parties, and comply with legal and regulatory obligations.
This may include:
- Your name, identity or registration details
- Contact details, including telephone numbers and email addresses
- Residential, postal or business addresses
- Banking and financial information
- Information relating to an insurance or investment policy
- Policy schedules, statements and supporting documentation
- Information required for identity verification, FICA and due diligence purposes
- Correspondence, enquiries and records of interactions with us
- Information reasonably required to evaluate, administer or complete a proposed policy transaction
How we collect personal information
We may collect personal information directly from you when you contact Policy Trader, submit an enquiry, request a policy evaluation, provide documentation or otherwise interact with us.
Where lawful and appropriate, we may also obtain information from Yield Capital, product providers, insurers, financial institutions, verification providers, professional advisers, regulatory bodies, publicly available sources or other third parties involved in a transaction or compliance process.
Why we process personal information
We may process personal information for purposes including:
- Responding to enquiries and communicating with you
- Assessing and evaluating policies
- Preparing or considering offers to purchase policies
- Verifying identity and conducting required due diligence
- Processing instructions, documentation, cessions or ownership transfers
- Administering transactions and maintaining records
- Preventing and detecting fraud, unlawful activity or misuse of our services
- Resolving complaints and queries
- Complying with legal, regulatory, audit and record-keeping obligations
- Protecting the legitimate interests and legal rights of Policy Trader, Yield Capital, our clients and relevant third parties where permitted by law
We will only process personal information where there is a lawful basis to do so and will obtain consent where consent is required by law.
Sharing of personal information
Where necessary and lawful, personal information may be shared with Yield Capital, product providers, insurers, financial institutions, professional advisers, compliance service providers, information technology service providers, auditors, regulators, law-enforcement authorities and other parties reasonably required to evaluate or complete a transaction or fulfil a legal obligation.
We do not sell personal information.
Direct marketing
Electronic direct marketing will be conducted in accordance with POPIA and applicable law. Where consent is required, we will obtain the necessary consent before sending marketing communications.
You may object to or opt out of direct marketing communications at any time.
Security of personal information
We take reasonable and appropriate technical and organisational measures to protect personal information against loss, damage, unauthorised destruction, unlawful access, interference, misuse or disclosure.
Where personal information is processed by a service provider on our behalf, we will take reasonable steps to ensure that appropriate confidentiality and security safeguards are in place.
If personal information is compromised, we will take the steps required by applicable law, including notification to the Information Regulator and affected persons where required.
Retention of personal information
Personal information will only be retained for as long as reasonably necessary for the purpose for which it was collected, or for any longer period required or authorised by law.
When personal information is no longer required and there is no lawful reason to retain it, we will take reasonable steps to delete, destroy or de-identify it.
Transfer of personal information outside South Africa
Where personal information is transferred to, stored in or processed in another country, this will only be done where permitted by POPIA and where the requirements applicable to cross-border transfers of personal information have been satisfied.
Your rights
Subject to applicable law, you have the right to:
- Request confirmation of whether we hold personal information about you
- Request access to your personal information
- Request correction or deletion of inaccurate, irrelevant, excessive, outdated, incomplete or unlawfully obtained personal information where legally applicable
- Object to the processing of your personal information in appropriate circumstances
- Object to direct marketing
- Withdraw consent where processing is based on consent, subject to applicable legal requirements
- Lodge a complaint with the Information Regulator
Information Officer and privacy enquiries
Information Officer: Michael Randall
Email: info@yieldcap.co.za
Policy Trader email: help@policytrader.co.za
Telephone: 021 551 8222
Office: Unit 3B, The Matrix Building, 8 Bridgeway, Bridgeway Precinct, Century City, Cape Town, 7441
Complaints to the Information Regulator
If you believe that your personal information has been processed unlawfully, you may contact us using the details above or lodge a complaint with the Information Regulator South Africa.
Information Regulator South Africa
Telephone: 010 023 5200
General Enquiries: enquiries@inforegulator.org.za
POPIA Complaints: POPIAComplaints@inforegulator.org.za
Address: Woodmead North Office Park, 54 Maxwell Drive, Woodmead, Johannesburg, 2191
This policy may be reviewed or updated from time to time to reflect changes in our business, legal requirements or regulatory guidance.