Charles Taylor partners with ‘data virtualisation’ specialist

Charles Taylor InsureTech has partnered with Actifio, a ‘copy data virtualisation’ specialist, to implement an IT solution that it claims will slash insurers’ data storage costs by creating a single cloud-based copy of data.

It said the solution eliminates the need for insurers to hold multiple copies of data, and allows for fast access to big data for insurers wanting to improve their risk selection, underwriting and claims management.

Jason Sahota, chief executive of Charles Taylor InsureTech, said: “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 at Actifio, added: “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.”