Digital transformation for many organisations starts with the digitisation of data and the digitalisation of operational processes. Both are done with the purpose of facilitating more effective communication amongst employees and consumers and providing a more innovative service offering to establish a competitive advantage.
The process of converting physical information, such as identification documents or no-claims proof, and then sharing these with a team via a digitised process, such as email, creates unmanaged, unstructured data.
Unstructured data is created daily within insurance organisations; from when new customers are onboarded, to when reports are generated and shared amongst business units. Examples like this expose the organisation to rising data storage costs, and more importantly, to data privacy risk and breaches in regulatory compliance.
As a Governance, Risk and Compliance platform, AI.DATALIFT classifies data against an organisation’s information governance strategy.
When new information is created, it is automatically categorised against the appropriate classification and policies schema. AI.DATALIFT enables organisations to create retention schedules around their different insurance products and policies.
To learn more about how AI.DATALIFT can provide instant alerts to ungoverned data, automate governance and compliance policies, as well as manage your DSAR process, simply sign up for our ‘Intelligent Working in Insurance’ webinar below.