Charles Taylor InsureTech partners with Actifio to slash insurers’ data storage costs and accelerate IT solution implementation
22 November 2016
High storage costs and slow data access have hampered insurers wanting to benefit from ‘big data’ to improve their risk selection, underwriting and claims management. Now, Charles Taylor InsureTech has partnered with ‘copy data virtualisation’ specialist Actifio to revolutionise insurers’ use of data.
Copy data virtualisation eliminates the need for insurers to hold multiple copies of their data and creates a single Cloud-based ‘golden copy’. All of an insurer’s systems and applications can access the data simultaneously. This allows systems to be developed using real-time data at the same time that live applications are being used to write business or handle claims. Data can also be interrogated to deliver up to date management information without operational delays. Data virtualisation greatly reduces the amount of expensive data storage required by businesses and significantly accelerates systems development.
Jason Sahota, Chief Executive, Charles Taylor InsureTech says:
“Insurers can hold up to 40 copies of their data at any one time according to industry analysts. Copies are kept to run different applications, support systems development or provide management information. Using copy data virtualisation we can eliminate the need to hold duplicate data and save insurers a vast amount of money on their data storage and accelerate their access to data.
“Actifio developed the concept of copy data virtualisation and is way ahead of the market in delivering the benefits of data management to clients across a wide range of industry sectors. We are delighted to partner with Actifio to bring data virtualisation technology to the insurance industry.”
Patrick O’Donnell, Vice President International Sales, Actifio, says:
“As a forward-thinking company we are always looking at new ways to spread the benefits of copy data virtualisation to organisations across the globe. The opportunity to partner with Charles Taylor InsureTech, a business with a deep knowledge of the insurance industry, is very exciting. As more companies in the insurance sector are moving to capitalise on the power of data, partnerships such as this that get Actifio’s copy data virtualisation technology on the radar of CIOs and IT departments are extremely valuable.”