Insurance organisations produce and manage a large volume of data, of which it is estimated that 80% of that data is unstructured. Understanding what information your unstructured data holds is key, not only for extracting valuable insights but also for complying with regulations such as GDPR and internal data retention policies.
By its nature, unstructured data is not easily accessible as it can be hidden in a variety of formats, across numerous file types and stored in locations that might not be regularly checked or know to contain this information. Ohalo's Data X-Ray platform is an industry leading platform enabling the automated, real-time discovery, classification and redaction of unstructured data (down to a word level within a given file).
How we can help
ECMS is a specialist consulting partner to insurance organisations with deep understanding of the business and technical requirements of regulatory and compliance programmes such as GDPR or data retention. ECMS are a proponent using Ohalo’s X-Ray as a tool to quickly address the challenges that unstructured data brings to insurance markets in particular.
We can support your needs through a phased approach utilising our delivery consulting experts across implementation, configuration and process design to support remediation activities.
Initiation – agree data sources to deploy the agentless software and start producing impactful outputs with the native engine.
Design and fine tuning – out the box rules can be enhanced and allow for new custom searches to be quickly configured to find insurance-specific areas of interest including hidden cyber coverage, outdated wordings, sanctions, identifying policies as part of inward/outward reinsurance.
Analysis - using the results to create MI reports for board level digestion as well as inform decision making via workflows, assign cases, and give evidence priority to unstructured data that needs immediate attention.
Data X-Ray uses machine learning and natural language processing to cater for the most sophisticated data protection, compliance and governance use cases. The Data X-Ray tool brings vast benefits over other unstructured data analysis tools through its improved speed using ElasticSearch, advanced categorisation abilities and the power of custom rules created with ECMS’ insurance domain knowledge that rapidly meet the specific challenges of your data, strategic requirements and industry-wide challenges.
Contact us today to get your change project off the ground.