Paragon Solutions’ Digital Transformation Model Drives Governance in Insurance Market
Paragon's award-winning Application Decommissioning Factory Model helps insurers better manage digital information to ensure compliance and reduce risk.
CRANFORD, NJ – Paragon Solutions, an advisory consulting and systems integration firm, reports its award-winning Application Decommissioning Factory Model digital transformation solution helps insurers gain control over content stored in legacy applications and file shares to improve information governance and reduce compliance risk.
Paragon’s model, which is a repeatable framework methodology for the establishment of archiving strategies, implementation of enterprise archive services and decommissioning of outdated applications with EMC InfoArchive solution, earned a Partner Innovation Award for Best Digital Transformation Solution from the Enterprise Content Division (ECD) of EMC Corporation at EMC World on May 4.
With the rapid growth of digital content, advancing compliance regulations, increased rulings on legal e-discovery and the persistence of a keep everything culture, some insurance carriers find that they are unprepared to meet compliance threats. Many organizations need help identifying what is being stored in desktops and file shares and in establishing processes to enable fast retrieval only to stakeholders with a legitimate right to use the information, all while balancing the cost of compliance.
“We speak with many insurance companies currently looking to better understand their stored data and to implement compliant methods of archiving and retrieving their data, as well as reduce their IT portfolio and overall IT spend,” reports Erik Raper, Executive Senior VP at Paragon Solutions. “Today’s insurance companies feel pressured to advance their information management and information governance processes, especially as many deal with aging legacy systems that are not capable of achieving compliance at a time of increasingly stringent regulatory requirements.”
Providing leading organizations with a comprehensive program consisting of experts, processes, and technologies designed to address archiving and information governance holistically, Paragon’s model enables progressive enterprises to better prepare for and deploy specific initiatives, including information archiving, records management, data consolidation, application decommissioning and information governance.
“The stark reality is, many organizations continue to maintain legacy applications to ensure access to the data they hold, which is often required to meet compliance regulations and support reporting, audit or legacy discovery,” Paragon’s Raper states. “These applications are often no longer supported by the vendor or are on a legacy infrastructure requiring specialized knowledge to maintain and as a result, they are expensive to retain and represent a risk to the organization. We are working with firms to archive and decommission these systems to enable IT innovation as part of a comprehensive, digital transformation strategy.”
About Paragon Solutions
Paragon Solutions is an advisory consulting and systems integration firm that specializes in enterprise information management to help clients leverage information assets for better business results. The company does this through its industry practices, solution accelerators and specialized technology competencies that help clients achieve operational efficiency, business scalability and regulatory compliance.
Paragon works with businesses that are focused in a few key industries − communications, financial services, healthcare, insurance, and life sciences. The industry-focused practices work with Paragon’s competency groups to address today’s client concerns in Process Optimization, Information Management and Information Integration. For more information, please visit the Paragon website at www.consultparagon.com, or call 1.800.462.5582. On social media, visit Paragon on Twitter @consultparagon or Paragon Solutions on LinkedIn and follow updates from Paragon on Facebook.
Press Contact:
Liz Lange
Paragon Solutions
(908) 653-3018
elange@consultparagon.com
