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Redaction Pain Points Insurance Firms Face
Why Insurance Firms Need Automated Redaction to Protect Data and Ensure Compliance

Your insurance firm can't thrive if you don't keep people's information safe — and redaction is integral to the process.


Redaction is the act of removing confidential or sensitive information from a document, whether it be a name, address, or Social Security number. It's a critical aspect of privacy and security compliance, and it's essential for insurance firms to get it right.


Unfortunately, redacting documents can be a time-consuming and expensive process fraught with challenges. Unfortunately, it's not something you can ignore — the risks are too great. Here are some of the biggest hurdles you should know.


You'll Have to Commit to Spending Time on Redaction


Want to understand one of the biggest pain points insurance firms face when it comes to redacting documents? Look no further than the clock: Time is a huge limiting factor for many redaction strategies.


Redaction takes careful research and understanding of the laws and regulations that apply to each document — whether hardcopy or digital. Then, you need to redact the document itself.


This can be a lengthy process, especially in cases where multiple documents need adjustments. For instance, you might have to annotate or cross-reference a host of different files to completely erase information about a given consumer.


Also remember that after you've redacted your documents, you must verify them for accuracy. This step is vital to fulfilling certain legal rules and protecting yourself from data breaches.


Redaction Demands an Economic Investment


Funding is another massive issue for insurance firms. Redacting documents isn't cheap, especially if you do it manually.


Redaction requires the right software and hardware to completely and irrecoverably remove sensitive info. What's more, you'll have to retrain your staff on any new technology you adopt. Some insurance firms also have to increase their ongoing expenditures since they need to store redacted documents for a longer period.


Handling Redaction Properly Is No Breeze


The process of redacting documents can also be a huge headache. Managing multiple documents is a nightmarish challenge: After all, it's tough to keep track of hundreds or thousands of changes!


Making a seemingly simple redaction often requires a titanic amount of logistical planning. For instance, you may need to devote extra time to reconciling documents to ensure all the redactions are consistent across the board. It definitely pays to invest in a digital system that helps you manage it all.


The Final Word on Effective Redaction


Insurance firms need to be aware of the challenges they face when redacting documents. As part of a heavily regulated industry, these businesses have their work cut out for them. To maintain consumer trust and avoid legal fallout, policy providers and companies adjacent to the field must ensure they keep personal data safe.


Redaction isn't merely a matter of having good intentions. It's even more important to stay up-to-date with technology and regulations governing the process.


Tools like REDACT make all the difference by shouldering some of the load. It can automatically update to meet relevant laws, generate risk assessment reports, automate common workflows, and reduce the time you spend searching for information.


The REDACT suite makes it easy to deal with legal documents — and automate your redaction process for maximum efficiency and accuracy. Learn more about living up to your obligations and keeping your policyholders safer. Talk to an iDox.ai expert today.

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