Strengthening Organization for Robust Audits
The insurance industry is witnessing stricter compliance measures and supervisory guidelines. Legal Data Co., a subsidiary of AI Data Co., has unveiled how Better Support, a comprehensive insurance agency based in Osaka, implemented the forensic tool EASY Forensics to improve their evidence management framework.
Background of Implementation
In recent years, there has been a significant shift in how information management is viewed within insurance agencies due to a growing focus on compliance and stringent auditing practices by insurance companies. Insurance agencies are now mandated to maintain records and provide clarity during audits.
This shift is not limited to large-scale agencies; smaller firms are equally impacted, necessitating transparency and standardization of business processes to ensure stability in managing their operations.
Challenges Faced
Better Support recognized the significance of audit readiness and information management but grappled with several issues:
- - Lack of a robust system to present objective records during audits.
- - Management of customer information reliant on individual employees, making organizational control difficult.
- - Dependency on specific personnel for workflows, leading to inconsistencies.
The key challenge was to establish a practical and operationally viable system beyond merely creating rules.
Steps Taken
With the assistance of Legal Data's EASY Forensics, Better Support focused on three core areas to enhance their information management structure:
1.
Strengthening Evidence Management Reliability: The implementation of automatic hash value generation improved tamper detection. This allowed Better Support to create an environment where evidence can be objectively verified as unchanged from the point of capture.
2.
Organizing Customer Data Management: To reduce the risk of information leaks, they transitioned from a local operational model to a structured management framework, formalizing retention procedures and management processes.
3.
Establishing Reproducible Business Processes: Manualizing evidence retention procedures and automating report generation enabled standardized quality of responses, ensuring that both procedures and their evidence could be promptly presented during audits.
Positive Outcomes of Implementation
After integrating EASY Forensics, several improvements were observed:
- - Increased reliability in evidence management, facilitating smoother audit responses.
- - Standardized workflows better positioned the agency away from person-dependent processes.
- - Significant reduction in labor and costs associated with audit preparation.
- - Strengthened trust and assurance both internally and externally due to the improved management structure.
Future Outlook
Legal Data Co. aims to continue supporting small to medium-sized businesses and professionals in strengthening their information management systems with EASY Forensics. They strive to transform audit processes from mere compliance burdens into competitive advantages.
Additional Resources
For further insights on this implementation case, visit:
Legal Data Case Study
About EASY Forensics
EASY Forensics is a user-friendly forensic tool developed by Legal Data Co., designed to facilitate data preservation, log analysis, and personal data detection in a single license. It is particularly beneficial for insurance agencies, professionals, and small businesses.
About Legal Data Co.
Name: Legal Data Co.
CEO: Yoshinobu Morita
Established: April 2018
Location: Minato-ku, Tokyo
Capital: 26 million yen
Website: Legal Data
Legal Data Co. specializes in developing and selling legal tech tools and offers various services including e-evidence investigations. Leveraging forensic investigation technology honed through AI Data’s legal services, they support a diverse clientele from small businesses to major corporations.
About AI Data Co.
Name: AI Data Co.
Established: April 2015
Capital: 1 billion yen (with reserves of 15.25 billion yen)
CEO: Takahito Sasaki
Location: Minato-ku, Tokyo
Website: AI Data
With a focus on data integrity and utilization, AI Data Co. has garnered trust from over 10,000 companies and more than a million clients for its data ecosystem services. Their accolades include 17 consecutive years of being the top seller in the BCN Awards for their data management solutions.