UK Insurance Provider – Enabling the Power of AI in Insurance

Risk reduction by removing redundant and sensitive data (£m)

Volume of Documents Removed During Remediation %

Time savings through AI-driven analysis (months)

Potential for annual cloud storage cost savings (£m)

Executive Summary

NowVertical’s Reveal software successfully addressed hidden data risks for a large UK insurance provider aiming to become digital-first. With automated data discovery and remediation, the company achieved £84m risk reduction, 80% data volume reduction, and £6m annual cloud storage cost savings. The implementation streamlined operations, improved data security, and saved valuable time, setting a new standard for data governance and management in the industry.

Business needs

The Customer faced a critical business need to identify and address hidden data risks within its unstructured data store. The internal audit highlighted significant risks associated with redundant and over-retained data and potential exposure of unencrypted confidential information, posing data security and regulatory breach risks. The manual search efforts through a vast volume of files proved inefficient and costly, necessitating an urgent solution.

Business results after AI implementation:

  • £84M risk reduction by removing redundant and sensitive data.
  • 80% volume reduction, optimizing data management.
  • 12-month time savings with AI-driven analysis.
  • 10x efficiency improvement for data review.
  • £6M annual cloud storage cost savings.

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