PRIVACY POLICY
Rafiki Financial Services Ltd. ("Rafiki Financial," "we," "us," or "our") is committed to protecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your personal information in compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA), applicable provincial privacy legislation, and industry regulations including those overseen by the Financial Services Regulatory Authority of Ontario (FSRA) and equivalent bodies across Canada.
1. Information We Collect
We collect personal information necessary to provide insurance and financial services. This may include:
- Identity Information: Full name, date of birth, Social Insurance Number (SIN), government-issued identification.
- Contact Information: Address, telephone number, email address.
- Health Information: Medical history, health status, pre-existing conditions (only when necessary for specific insurance products and with your explicit consent).
- Financial Information: Income, employment details, banking information for premium payments.
- Beneficiary Information: Names and contact details of designated beneficiaries.
- Website Usage Data: IP address, browser type, pages visited, time spent on site (collected via cookies and analytics tools).
1.1 How We Collect Information
- Directly from you through application forms, phone calls, emails, and our website.
- From insurance underwriters and financial institutions with your consent.
- From publicly available sources where permitted by law.
- Through cookies and similar technologies when you use our website.
2. How We Use Your Information
We use your personal information for the following purposes:
- To assess and process insurance applications and claims.
- To provide quotes and recommendations for insurance and financial products.
- To communicate with you regarding your policies, account, or inquiries.
- To process premium payments and commissions.
- To comply with legal and regulatory obligations (including anti-money laundering and fraud prevention).
- To send you newsletters, promotional materials, and service updates (with your consent, which may be withdrawn at any time).
- To improve our website, services, and customer experience.
3. Sharing and Disclosure of Information
We do not sell your personal information. We may share your information with:
- Insurance Providers: To underwrite policies, process claims, and administer coverage.
- Financial Institutions: For processing payments and managing investment accounts (RRSP, TFSA, etc.).
- Service Providers: Third parties who assist with IT support, data storage, marketing, and customer service (bound by confidentiality agreements).
- Regulatory Bodies: When required by law or to comply with requests from FSRA, OSFI, CRA, or other regulatory authorities.
- Legal Proceedings: When necessary to establish, exercise, or defend legal claims, or as required by court order.
All third-party recipients are contractually obligated to protect your information and use it only for the specified purposes.
4. Cookies and Tracking Technologies
Our website uses cookies and similar technologies to enhance your browsing experience, analyze website traffic, and personalize content.
- Essential Cookies: Required for the website to function properly.
- Analytics Cookies: Help us understand how visitors interact with our website (e.g., Google Analytics).
- Marketing Cookies: Used to deliver relevant advertisements and track their effectiveness.
You can manage cookie preferences through your browser settings or our cookie consent banner. For more details, please see our Cookie Policy.
5. Data Security
We implement appropriate physical, technical, and administrative safeguards to protect your personal information, including:
- Encryption of data in transit (SSL/TLS) and at rest.
- Restricted access to personal information on a need-to-know basis.
- Regular security assessments and vulnerability testing.
- Employee training on data protection and privacy compliance.
- Secure data storage with Canadian-based cloud providers where possible.
Despite our efforts, no security system is impenetrable. We will notify you and applicable regulatory authorities of any data breach as required by law.
6. Data Retention
We retain your personal information for as long as necessary to fulfill the purposes outlined in this policy, or as required by law. Insurance records are typically retained for the duration of the policy term plus seven (7) years, or longer where required by provincial regulations.
7. Your Rights
Under PIPEDA and applicable provincial privacy laws, you have the right to:
- Access: Request access to the personal information we hold about you.
- Correction: Request correction of inaccurate or incomplete information.
- Withdraw Consent: Withdraw your consent for certain uses of your information (subject to legal or contractual restrictions).
- Complaint: File a complaint with the Privacy Commissioner of Canada or your provincial privacy commissioner if you believe your privacy rights have been violated.
- Deletion: Request deletion of your personal information, where permitted by law.
7.1 How to Exercise Your Rights
To access, correct, or request deletion of your personal information, please contact our Privacy Officer using the information below. We will respond within 30 days of receiving your request.
8. Third-Party Links
Our website may contain links to third-party websites (e.g., insurance providers, financial institutions). We are not responsible for the privacy practices or content of these websites. We encourage you to review the privacy policies of any third-party sites you visit.
9. Children's Privacy
Our services are not directed to individuals under the age of 18 without parental consent. We do not knowingly collect personal information from children without verifiable parental consent. If you believe we have inadvertently collected information from a minor, please contact us immediately.
10. Changes to This Privacy Policy
We may update this Privacy Policy from time to time to reflect changes in our practices, legal requirements, or regulatory obligations. The updated policy will be posted on this page with the "Last Updated" date. We encourage you to review this policy periodically.
11. Contact Our Privacy Officer
If you have any questions, concerns, or requests regarding this Privacy Policy or our handling of your personal information, please contact our Privacy Officer:
You also have the right to file a complaint with the Office of the Privacy Commissioner of Canada at www.priv.gc.ca or by calling 1-800-282-1376.
