Accelerate Innovation and Safe Data Sharing with Partners

Accelerate Innovation and Safe Data Sharing with Partners
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Data processing has historically been a manual task requiring extensive human capital. However, one leading insurance company sought to depart from this norm to unlock high-speed product development and innovation in order to remain competitive. With 3000 datasets and more than a hundred data scientists employed, the company needed a high-tech solution that would enable them to accelerate product development and share structured datasets externally while maintaining data security.

Key challenges:

  • Costly man-hour requirements. On average, 5 to 7 people are required to assist with data sharing and provisioning
  • No consolidated environment for test and training data. Up to 48 hours is spent on refreshing test datasets shared with a partner organisation
  • Limited data available for tests. Lack of data negatively impacts model accuracy and performance
  • Long and cumbersome compliance process. Between 2 and 4 months is spent going through compliance approvals and data sharing agreements (DSA).

With the Synthesized platform, they were able to:

  • Save 200 man-hours per project
  • Dramatically reduce team size and touchpoints
  • Mitigate legal and compliance risk (Privacy by design with no Data Sharing Agreement)
  • Eliminate data storage access 
  • Gain immediate access to millions of highly-representative and safe-to-use test datasets
  • Safely share data with third-party vendors for product development
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