Sector Updates

Responding to governance events, like audits, investigations and e-discovery, in the era of unified communications and collaboration (UCC) is hard. IT stakeholders, such as those responsible for compliance archive storage and architecture, responding to search requests from compliance and legal, are overwhelmed by the volume and complexity of today’s modern communications and by the constraints of heritage archiving investments. Unfortunately for those involved, both on the IT and compliance/legal side, search and discovery might consist of a “best guess” effort making it challenging to identify risk or wrongdoing, form a judgment on the merits of a case and at its worse, suffer fines, sanctions, negative verdicts and damage to the organization’s brand and reputation. The volume of communications for today’s organizations come in the form of textual communications like email, chat, SMS, documents, voice communications and even visual communications like whiteboards or video. In a large organization, with thousands of employees working across multiple communications platforms, content growth can be exponential. UCC content is also complex. Textual content like chat and email can be embedded with emojis, reactions, images, memes, file attachments and more. All of this needs to be searched and analyzed for potential risk and signals of intent during a digital conversation as rogue users can look to obfuscate their communications behind these tools. Users today often context switch between multiple applications during a conversation. What starts out as a virtual meeting can segue to SMS, a phone call, an email or other forms of communication. In addition, chat conversations can be persistent and take place over days, weeks, months, even years, making it very difficult to encapsulate conversation patterns, relationships, intent and more. Finally, adding to the complexity level, UCC platforms are increasingly meshed, meaning they provide the ability to switch to a different modality (voice, video, etc.) or even a different platform for doing so. How can compliance IT teams keep up? Legacy approaches to managing regulated data - such as email and voice archives - are struggling to adapt to today’s modern communication requirements. These archive systems can serve as containers for regulated information to be safeguarded and locked away, but with enormous and numerous trade offs. These include redundant costs, loss of productivity, and increasing complexity, as they grapple to meet the constant evolution of changing UCC platforms and their continual improvements and feature additions. Responding to governance events can also mean that compliance IT stakeholders must pivot between these archive silos, conducting multiple search attempts and results and manually assembling a case or data investigation set. In addition, legacy systems lack the capability to capture and retain communications with full context across all UCC modalities, making it very difficult for compliance, legal and risk teams to piece together a digital conversation that as mentioned, can encompass text, voice and visual communications. Keyword search, the historical and primary means of navigating archived email conversations, is inadequate as a standalone capability in the face of today’s volume and complexity challenges, making it challenging to respond to external and internal requests for information. All of this is compounded by constrained time frames, such as when dictated by a judge’s or regulatory body’s order. UnifiedComms_Laptop In response to this, Theta Lake has developed Unified Search, Discovery and Replay. With it, organizations can: Efficiently aggregate all of the necessary data, across different modalities, meshed environments and timelines providing a complete “big picture” Deliver a unified view of a user across their various digital identities, to eliminate gaps during investigations Identify conversation patterns and outliers/suspicious patterns in communications to enable further drill down Review associated documents and access patterns and histories associated with communications investigations Theta Lake Unified Search, Discovery and Replay uses a variety of technologies, including Generative AI, visualizations, dashboards and digital identity mapping along with rapid and accurate keyword search to help organizations produce the necessary records and search results, without over collecting data to help compliance, legal and risk management teams respond quickly to governance events.

Pouch Insurance unleashes multilingual AI tool

Pouch Insurance, leveraging the capabilities of the INSTANDA no-code insurance platform, has introduced a pioneering AI assistant named 'Goodie'.
Xceedance bolsters inspection capabilities with Millennium Information Services acquisition

Xceedance bolsters inspection capabilities with Millennium Information Services acquisition

Xceedance, a global leader in insurance-focused consulting, technology, operations support, and data solutions, has acquired Millennium Information Services, a major player in property inspection and data analytics in the US.
Narayana One Health, a health and wellness platform in India, has partnered with dacadoo, a global digital health technology provider, to promote better health outcomes for users by providing personalised, data-driven insights.

Narayana One Health partners with dacadoo to launch digital health score for personalised wellness

Narayana One Health, a health and wellness platform in India, has partnered with dacadoo, a global digital health technology provider, to promote better health...
Sompo, a prominent global provider of commercial and consumer property and casualty (re)insurance, has launched a new national marine insurance proposition tailored for the United Kingdom.

Sompo launches national marine insurance product for the UK market

Sompo, a prominent global provider of commercial and consumer property and casualty (re)insurance, has launched a new national marine insurance proposition tailored for the United Kingdom.
Berkshire Hathaway Specialty Insurance (BHSI), a global insurance provider, has announced the opening of a new office in Milan as part of its European expansion.

BHSI expands European operations with Italian office

Berkshire Hathaway Specialty Insurance (BHSI), a global insurance provider, has announced the opening of a new office in Milan as part of its European expansion.
McGill and Partners, a global specialty insurance and reinsurance broker, has announced its expansion into the Nordic region with the opening of a new branch office in Sweden, pending regulatory approvals.

McGill and Partners expands into Nordics with new Sweden office

McGill and Partners, a global specialty insurance and reinsurance broker, has announced its expansion into the Nordic region with the opening of a new branch office in Sweden, pending regulatory approvals.
Centivo, a healthcare company focused on making high-quality healthcare more affordable, has secured $75m in a recent funding round.

Centivo secures $75m to drive affordable healthcare for US employers

Centivo, a healthcare company focused on making high-quality healthcare more affordable, has secured $75m in a recent funding round.
Howden, a leading international insurance broker and risk management group, has launched an innovative platform aimed at helping clients better evaluate and manage climate risks.

Howden unveils new resilience platform for climate risk analysis

Howden, a leading international insurance broker and risk management group, has launched an innovative platform aimed at helping clients better evaluate and manage climate risks.
West Bend and ZestyAI expand partnership to boost AI-driven property risk analytics

West Bend and ZestyAI expand partnership to boost AI-driven property risk analytics

West Bend Insurance, a personal lines insurer, has expanded its collaboration with ZestyAI, a leader in climate and property risk analytics.
SureChoice Underwriters Reciprocal Exchange, a policyholder-owned reciprocal exchange, has partnered with SageSure to launch its first non-admitted business owners policy (BOP) in California.

SureChoice launches new business owners policy (BOP) in California amid wildfire challenges

SureChoice Underwriters Reciprocal Exchange, a policyholder-owned reciprocal exchange, has partnered with SageSure to launch its first non-admitted business owners policy (BOP) in California.
Load more

Latest Analysis

News Stories

Migrating from on-premises to cloud infrastructure is a major leap for any organisation. This was the case for a Fortune 500 insurer seeking to modernise its operations. Their existing system, which relied on outdated methods and manual processes, was no longer fit to handle the enormous amounts of data generated daily. This transformation involved building a robust, automated platform, transitioning to the cloud, and optimising for efficiency and scalability. Customer software development company Symfa explains how it supported the firm on this journey.

How Symfa helped a Fortune 500 insurer modernise its cloud infrastructure – part one

Migrating from on-premises to cloud infrastructure is a major leap for any organisation. This was the case for a Fortune 500 insurer seeking to modernise its operations. Their existing system, which relied on outdated methods and manual processes, was no longer fit to handle the enormous amounts of data generated daily. This transformation involved building a robust, automated platform, transitioning to the cloud, and optimising for efficiency and scalability. Customer software development company Symfa explains how it supported the firm on this journey.
ZestyAI has partnered with Standard Casualty Company to enhance risk assessment and policyholder collaboration for manufactured home insurance using advanced AI-driven property and climate risk analytics.

ZestyAI and Standard Casualty join forces to innovate property insurance for mobile homes

ZestyAI has partnered with Standard Casualty Company to enhance risk assessment and policyholder collaboration for manufactured home insurance using advanced AI-driven property and climate risk analytics.
HDI Global, a leading provider of industrial insurance, has announced plans to expand its environmental liability insurance offerings to international markets.

HDI Global expands ESG insurance offering with international environmental liability coverage

HDI Global, a leading provider of industrial insurance, has announced plans to expand its environmental liability insurance offerings to international markets. The expansion follows the...
Mulberri, a digital insurance platform focused on innovating business insurance, has joined forces with Qualys in a bid to deliver enhanced cyber insurance offerings.

Qualys partners with Mulberri to transform cyber insurance underwriting

Mulberri, a digital insurance platform focused on innovating business insurance, has joined forces with Qualys in a bid to deliver enhanced cyber insurance offerings.
Duck Creek Technologies, a global provider of intelligent solutions for property and casualty (P&C) and general insurance, has announced the opening of a second Centre of Excellence (CoE) in Warsaw, Poland.

Duck Creek Technologies expands with new centre of excellence in Poland

Duck Creek Technologies, a global provider of intelligent solutions for property and casualty (P&C) and general insurance, has announced the opening of a second Centre of Excellence (CoE) in Warsaw, Poland.
© InsurTech Analyst © Copyright 2024. All rights reserved.

Technology partner
Advanced Vision IT

Download the free InsurTech100 report

FREE

Get the free InsurTech100 report with details on each solution

60,000+ InsurTech leaders get exclusive insights delivered every week