Smarsh
Seamless Communications Capture, e-Discovery and Risk Mitigation

Insurance companies and financial services organizations are legally obligated to capture, preserve, and monitor communications for compliance, e-discovery, and risk mitigation. An evolving regulatory climate and an ever-growing number of available communications channels necessitate insurance companies to partner with leading-edge data capture and archiving providers like Smarsh.

Where once large insurance companies hesitated in embracing innovation due to compliance, legal, and reputational risks accompanying electronic communications, an increasing number of these companies are now leveraging Smarsh expertise to further their digital transformation journey and derive exponential value from their communications data.

One of the biggest challenges for a large company undertaking digital transformation is ensuring that an effective capture and archiving solution is in place to manage the massive volume of information that exists and is created within the business. Further to this, with the adoption of an increasing number of digital communication platforms like Teams and Zoom, companies face an increased surface area of risk in terms of the communications that need to be monitored and stored.

Smarsh converts these challenges into opportunities by managing petabytes of information gathered for clients through its cloud-based Enterprise Archive. Compared to legacy on-premises solutions, the cloud-based Enterprise Archive helps insurance companies undertake search and export content orders at unprecedented scale with unprecedented speed. Furthermore, with the Enterprise Archive, all information is stored in its native format, enabling clients to identify appropriate content quickly and respond promptly to any emerging situation – be it a regulatory request, legal audit, or internal investigation.

Smarsh provides an enhanced approach to capturing, storing, and monitoring communications, helping clients to not just manage their communication data, but derive value from for it. This approach is amplified through the Smarsh Enterprise Platform, which empowers Smarsh customers to capture and analyse communications data from over 100 channels, including social media platforms and messaging apps like Slack. The platform utilises Smarsh-developed AI to deliver business-critical insights from companies’ communications data, fortifying e-discovery efforts and identifying trends to spots new and emerging risks.

A major North American insurance company found a suitable solution with Smarsh. When the Covid-19 pandemic hit, the insurance company rapidly transitioned over 95 percent of its employees to homeworking. However, it faced challenges in adopting Microsoft Teams with the speed and agility necessary due to its on-premises infrastructure. Smarsh provided a solution that enabled comprehensive Teams content capture for over 25,000 users.

As the pandemic eased, Smarsh assisted further with the company’s digital transformation, by supporting the migration of the insurance company’s legacy on-premises archive to the cloud-based Smarsh Enterprise Platform.

Smarsh pairs the Enterprise Platform with the support of a team of in-house regulatory experts, leveraging experience from working with over 6,000 financial institutions to tackle the challenges of today and prepare for the regulatory pipeline ahead. Furthermore, as an increasingly active regulatory climate demands more from industry players, Smarsh has been active in evolving its functionality through acquisition – a strategy recently deployed to ensure that data from WhatsApp and WeChat could be captured for its clients.

“Through the Smarsh Enterprise Platform, we strive to become an integral component of our clients’ digital ecosystems. We know from our customers that they derive huge amounts of value from the platform, which fuels our efforts to innovate and provide clients with solutions they need for the challenges of today – and tomorrow,” says Tom Padgett, general manager of Smarsh Enterprise.

This commitment to constantly innovate the Enterprise Platform and leverage artificial intelligence technologies to proactively mine for insights, enables Smarsh to identify regulatory and reputational risks before they are even on a company’s radar. It is this ability to transform communications oversight into business-critical foresight that separates Smarsh from its peers and ensures that its customers are deriving maximum value from their communication data.