Pinpoint Predictive Receives SOC 2 Type II Certification
Pinpoint Predictive is the leading turnkey tool for carriers to compliantly leverage unmatched risk selection prior to eligibility and renewal decisions to improve Customer Lifetime Value and loss ratios. As our platform uses billions of data points and the latest in deep learning AI and behavioral economics, safeguarding the privacy of our clients and their customers has been core to our success. “We have always had a strong information security posture. Attaining the SOC 2 Type II certification is a terrific achievement and provides further peace of mind for us and for our clients,” remarked Scott Ham, CEO of Pinpoint Predictive. “I am so thankful for the hard work and dedication of our great team in the preparation for, and in the successful completion of, this audit. We could not have made it through without this amazing group of people.”
What is SOC 2 Compliance and why is it important to Pinpoint Predictive?
SOC 2 specifies how organizations should manage customer data. The standard is based on the following Trust Services Criteria: security, availability, processing integrity, confidentiality, and privacy. A SOC 2 report is tailored to the unique needs of each organization. Depending on its specific business practices, each organization can design controls that follow one or more principles of trust. These internal reports provide organizations and their regulators, business partners, and suppliers with important information about how the organization manages its data. The SOC 2 Type II certification is the result of a complete review, conducted by outside auditors, that Pinpoint maintains and follows effective controls over its data.
Conducting the audit and achieving compliance early in our organizational journey was key for Pinpoint because we are actively working with organizations of all sizes. Many large organizations have adopted SOC 2 Type II as a rigorous standard and expect the same from their partners. We were happy to comply.
Our Advice for SOC 2 Audit success
Tip # 1. Create a culture of compliance. Leverage your SOC 2 Audit to make data security an organizational priority. Data security has been central to the culture at Pinpoint, but we’ve undertaken the SOC 2 Type II preparation and audit to further solidify and formalize that aspect of culture. If your people understand the “why” behind the certification process, the commitment of time and energy will not feel as daunting.
Tip # 2. Leverage knowledgeable partners. There are great partners with the expertise to guide you through the process. We partnered with Vanta to streamline our processes and to document our policies and procedures in advance of the audit. We recommend selecting a platform that has good customer service and extensive experience guiding companies through the process.
Tip #3. Celebrate your achievement! Navigating a SOC 2 Type II certification, and building the corresponding culture of compliance, is a difficult endeavor. Attaining this certification is, therefore, certainly a reason to celebrate.