One of the world’s largest health insurance providers, serving over 17 million customers, faced a critical challenge: enabling secure data sharing while adhering to stringent contractual obligations. Their IT insurance line of business, crucial to their operations, needed a robust data security platform to manage on-premise systems and prepare for an impending cloud migration. Existing fragmented tools led to inconsistent user experiences and failed to deliver necessary value and risk reduction. This long-standing issue, persisting for over 25 years, required a solution that would:
- Integrate seamlessly with current on-premise systems
- Future-proof data security for cloud migration
- Ensure compliance with strict contractual and HIPAA compliant data regulations
- Meet the business goals and objectives of end-users in applications
Key Highlights
Technology Used
- Protegrity Enterprise Security Administrator (ESA)
- Protegrity Data Security Gateway (DSG)
- Protegrity Database Protectors
- Protegrity App Protectors
Desired Outcomes
- Be able to restrict data based on plan and location
- Comply with contractual obligations
The Results
- Maintain offshore/onshore ratios, saving $100M in operational costs year over year
- Compliance with regulatory requirements such as NACHA and HIPAA-compliant data protection, safeguarding the provider from potential fines
- Secure data sharing for external analytics, driving cost-saving revenue generation, and increased market capture in two states
- Sunset products that were no longer profitable
- $12B in revenue protected
The Solution
The insurance provider evaluated multiple solutions to address long-term business problems and meet technical demands flexibly before selecting Protegrity for their data security platform. Protegrity’s Data Security Platform, including ESA, DSG, Mainframe Protectors, Database Protectors, and App Protectors, was implemented to meet the provider’s extensive technology requirements. Significant customization ensured the DSG performed Attribute-Based Access Control (ABAC) and supported a self-service approach for application teams. This collaboration developed tailored solutions to ensure end-users had experiences based on specific record requirements.
Our Insurance Partners
Total Cost of Ownership and Return on Investment
Protegrity’s data security platform protects sensitive data anywhere and everywhere, empowering organizations worldwide to use data to create better customer experiences, make intelligent decisions, and fuel innovation. For more than two decades, Protegrity has helped insurance organizations like yours overcome data security hurdles by securing sensitive data and maintaining the highest level of data privacy and compliance. With over 120 patents and patents pending, Protegrity pioneered many of the techniques that drive the data protection industry’s solutions. Protegrity also partners with preeminent technology companies to offer the most comprehensive yet flexible range of data protection options.
In a recently compiled Forrester report titled “The Total Economic Impact of Protegrity,” Forrester specifies many Protegrity Total Cost of Ownership (TCO) elements. Forrester developed data assessing three-year, risk-adjusted present value (PV) costs, including software, implementation, and ongoing operational costs. When these costs were compared with benefits such as improved productivity of the data protection team, reduced data breach insurance premiums, and increased profitability from easier and better use of data for new projects, Forrester estimated a Return on Investment (ROI) of 144%.
The health insurance provider shared similar concerns about the total cost of ownership and realized significant cost savings in critical areas. Protegrity’s solution enabled the provider to reduce operational costs by $100M, comply with regulatory requirements to prevent fines, and facilitate secure data sharing for external analytics, all contributing to both cost savings and revenue generation.
If you’d like to learn more about how your organization can achieve new business growth through protected data sharing, reach out to us here.