Enhance eSignature Legitimacy for Insurance Industry in the United States

How to eSign a document: eSignature legitimateness for Insurance Industry in United States

[Applause] one of the the major pain points that many insurance companies face is around the operational and in particular cyber security threats that come from legacy technology when you think about technology that's been around for 10 20 30 years not only is it expensive to maintain not only is it operationally risky because you increasingly need to find a workforce that's hard to to find to manage that environment they often also have a lot of cyber security risks attached to them you think about the risk that gets posed by technology that is literally unpatchable they have security vulnerabilities that are well known uh they have vulnerabilities that have absolutely been used in the wild for for attacks in production systems and they're sitting late in your environment without a way to really fix them because you're running on an older version of an operating system you're running on an older application runtime you're running on uh older application frameworks that were used to develop that software for which there is literally no upgrade path you you can never fix that vulnerability without fundamentally changing that technology and the risky part about that situation is that every year the situation gets worse every year that that system is unpatched every year that new vulnerabilities are found against those systems every year that more of those systems exist in your environment and the problem the scale of the problem gets larger within your organization then the problem gets that much harder to solve so uh you know there's a saying about the the best time to plant a tree is 20 years ago the next best time to plant a tree is today and i think that same kind of analogy applies here uh absolutely the right time to have fixed problems with platforms that have vulnerabilities is the day that they have the vulnerability but the next best time is absolutely today the problem will not get any better by waiting another year and while that can be challenging when you have other business priorities that you want to go attack there absolutely is a case to be made for dealing with those challenges now before the problem gets more expensive to solve next year or worse yet before you have some kind of an event attached to that vulnerability that is absolutely avoidable if you deal with it now so there are some pretty serious pain points that most established companies run into in trying to keep pace and a lot of those just have to do with how they've done business to date how they've done it to date and some of the requirements frankly of of of moving into this new world um so one of those can generally be described as legacy modernization right it's this idea of trying to modernize infrastructure when you've built an entire process around a delivery model that is no longer sustainable and this is a really difficult thing for companies to go through and some in some cases you're looking at some cost fallacy and a desire to hold on to on-prem resources as opposed to going to the cloud simply because they exist uh in other cases it becomes more structural it can be cultural where design thinking just doesn't exist within the organization and yet there's clearly a push to focus on end user experience to focus on the functions and the features that are being created and what that means for the end user as opposed to simply a quote-unquote data project or simply an infrastructure project and this need to cross teams and across silos that previously existed and and frankly the need for cross-functional teams in order to deliver some of these projects can be a really big shift for legacy companies that haven't thought that way ever or at the very least in a long time we see it all of the time where you may have one group let's say it's the devops group that is that is purely locked in on a strategy that allows software to move from left to right more quickly and this can be really exciting and a lot of progress can be made in a short amount of time with people that are motivated to do this but the problem sometimes arises and we've had customers run into this where if the infrastructure team isn't on board with those sets of changes and all of a sudden you have tool sets and you have software components that aren't being used by other teams you can hit roadblocks along the way that really stunt growth in that area the same thing goes on the development side we've seen often where development efforts aimed at quickly deploying functionality to end users get held up with infrastructure blockers they get held up with testing in some cases it's not that they get held up at all but the end problem ends up being that the thought process and the design process that went into creating that functionality wasn't actually vetted with the end customer and so all of the intentions are correct and even the technical delivery can be right but if you haven't actually thought through if you haven't engaged with your customers if you haven't spent the time to think about what it is that they're looking for what it is that they're expecting you can still fall flat when it comes to an otherwise successful release you