Data Archive challenges in Life Insurance
I was in a discussion with a customer on migrating their block of business to a different platform. I heard this concern from that customer that one of their colleagues who came from another industry just doesn't understand the challenges associated with policy data storage for 60-70 years. We went on to discuss at length on how data storage is different in Life Insurance Business from that of P&C Business.
But then as I was heading home, I am beginning to wonder if there is any other business out there that a consumer would like to keep data for that long period of time. The only other example that came to my mind is Healthcare treatment/diagnosis where a consumer would prefer to have the data for that period of time. But you know, such a need is not addressed today and that might be a business opportunity in itself and a separate discussion!
Just wondering if there are other live examples out there where a consumer has a need to access data history going back decades?
Comments
1) Property data (want to know who owned my site 100 years back!)
2) Legal cases data (if they are digitized at all)- case laws
3) Photos - digital photography is a recent phenomenon. Where will they be stored eventually?
Posted by: Raghunath | September 24, 2009 12:01 PM
Hi Umashankar,
We do have quite a few insurance, health care, manufacturing and engineering clients that need access to data going back 30 - 80 years. For these clients we have deployed various optical storage systems and I will be more than glad to discuss this with you.
Alani
Phantom Data Systems Inc.
www.phantomdatasystems.com/opticalstorage.html
Posted by: Alani Kuye | October 24, 2009 5:52 PM