Insurance companies need insurance. In effect, that’s how they look at us. Every Insurance business needs to protect their data efficiently and economically. They also need to comply with seemingly endless streams of new and existing regulations. All of them dense. Of course they’re usually in business to make a profit so they need to do that while grooming their public image, managing risk, and taking advantage of every opportunity to grow.
From enhanced customer experience, to claim processing, to mobile application development, and financial reporting, the insurance business is information intensive. Essential data needs to be always available and reliably protected. Secure and carefully managed. Customers, brokers, application developers and government regulators – they all need fast, safe, easy data access.
Insurance markets also face intense competitive pressures. Digital innovation and data analytics combine in the challenges of risk analysis, underwriting responsiveness, communications, operational efficiency, privacy and fiscal responsibility. Makes you think that insurance people must always be very tired.
Because their critical data underpins the complex interchange of all insurance transactions, a simple, flexible data management platform is essential. It needs to be comprehensive, safe, fast and cost effective. Assured data control and availability as well as adherence to underwriting standards and government regulations need to be closely monitored. In all of this, reliable and immediately accessible information access is critical to business outcomes and to the efficient growth of core industry economics.
Actifio is helping Insurance customers to manage risk and to recover from unexpected data loss. They’re using data virtualization to create a new data management edge. They’re supporting simultaneous data use ranging from backup and disaster recovery to analytics and archive. What they consistently tell us is that they’ve significantly reduced costs while delivering better service levels. Some call it “transformational.” But even if they don’t, it’s changed the way they do business.
For one insurance client, it was all about reducing risk. They’re in the broker, commercial, and Lloyds of London marketplace. They were updating strategy and infrastructure across two data centers to aggressively drive new business for automotive insurance. Applications were being rationalized but data was still doubling every few months. Some planned programs would consolidate line of business applications but they still needed to find a better way to manage the data and strengthen their disaster recovery capabilities.
Not to make it too easy, speed and simplicity were critical factors. Backup and recovery windows had been taking way too long. There was no mechanism in place to assure business continuity and a massive project was planned to migrate data from one vendor’s storage platform to another.
So we helped with their plan and in only a few months the CIO told us that he saw Actifio as his primary enabler to address all of these issues. It equips them to back up their production environment, improve efficiency for data recovery and solve their very large copy data problem. It’s about being able to mount and access data instantaneously. Maybe the best quote was: “One of the things that attracted me first was that “Wow this is really quite easy to use.”
Our goal is always to help our customers meet objectives, to improve outcomes. So it’s great to hear our insurance customers report that they’re more productively interacting with brokers and business partners.
They say they have a better handle on their data – like how many copies exist and who has access. They feel protected. Insured.