Information and knowledge management strategy drives down costs and risks for multinational insurer
Introduction
Representing over 18.7 million people, this multinational insurance firm provides insurance, pensions, and investment services to people and businesses around the world.

Business drivers
The firm has always been, and continues to be, acquisitive over its 320 years in operation. As a result, their information and records management systems and practices varied considerably across the business. There was no standardisation of approach nor support for records management and effectively, over time, the company had built up a significant volume of legacy data which was stored off-site at a considerable cost.
Key requirements
As records and information management experts, Metataxis was approached by the firm help develop and support a comprehensive records management remediation programme.
We were engaged to:
- Create a company-wide information and knowledge management strategy
- Investigate and analyse the current information environment
- Based on these outcomes, develop and implement a company -wide information and records management remediation programme
- Review the current 3rd party off-site storage use and provision
- Create a governance framework, including a complete set of information and records management policies and guidance
- Review and update the Retention Schedule
- Provide active and practical information and records management support for business units, working with senior stakeholders and front line staff to ensure practical solutions to operational challenges with regards to information management
The Metataxis approach
We kickstarted this major project with a comprehensive information and records management discovery. This enabled us to understand the complete information landscape and current practices in place. Based on the discovery findings, we were then able to create a maturity model to map current practices against the desired state.
This maturity model was used to inform both the information and knowledge management strategy as well as the associated remediation programme.
The remediation programme project involved the creation of appropriate policies and procedures, a review and subsequent update of the company’s existing records retention schedule as well as a planned implementation of this schedule for all the firm’s systems and data.
In addition to the remediation programme, Metataxis also implemented a separate workstream to review all of the businesses hard copy records, covering:
- Storage – making sure the storage was fit for purpose, including rationalising storage providers
- Monitoring – ensuring the 3rd party storage contracts were fit for purpose and providing value for money
- Retention – applying retention and destruction to paper records, in line with the retention schedule
- Management – supporting business areas to manage their paper records and remain compliant with policy
Following our information and records management recommendations, we went on to implement the programme on behalf of our client. After a period of support, we subsequently helped the firm recruit a suitably qualified information and records manager as a permanent role.

As a result of our recommendations and support, the Client could confidently run a well-established records remediation programme managed by qualified staff.
They had a clear sense of strategic direction for information management which was supported by all senior stakeholders.
The renegotiation of the 3rd party off-site storage provider and the destruction of thousands of legacy paper files provided noteworthy cost savings. This disposal activity also resulted in a reduction of their information risk due to non-compliance.
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