Singapore, Singapore (PressExposure) March 23, 2011 -- GuardTime (http://www.guardtime.com), creator of the patented Keyless Signatures technology used to validate the world's data for applications such as secure cloud archiving, today announced the appointment of David Piesse, Asia Pacific Ambassador of the International Insurance Society, to its advisory board.
"Insurance is a key sector for us and we are delighted to have someone as experienced as David Piesse to advise us on this sector," said Mike Gault, GuardTime CEO. "As the insurance industry moves to online trading the amount of electronic data will increase exponentially and GuardTime's keyless signatures represent a cost-effective and scalable mechanism to prove the integrity and authenticity of that data."
"Global regulation of the financial industry has changed dramatically around capital adequacy and minimum solvency requirements which affect the ratings of insurance and reinsurance companies," said Piesse. "Part of this regulation centres around operational risk and the retention of stored policy and claims documents. GuardTime provides an innovative, unique solution to this part of the regulation and companies who incorporate the Keyless Signature approach to their business will have a competitive advantage and benefit from increased transparency. I am very pleased to be part of such an innovation which will prove to provide tremendous value to its members."
David Piesse is the Asia Pacific ambassador for the International Insurance Society and has a 30 year global career combining risk management, information technology and financial services. As a specialist in micro-insurance he co-founded the Asia Insurance Review micro-insurance conference and has led many initiatives to establish insurance distribution channels to rural areas, notably in China and India.
He was previously the Global Head of Financial Services for SUN Microsystems where he helped establish SUN's cloud computing initiatives in the insurance sector. Before that, he was with the United Nations on a team that led the mission for disaster risk management under three UN Secretary Generals.
GuardTime's Keyless Signatures provide proof of signing authority, time of the signature, and integrity of all data located in the cloud, on disk, and in transit. The signature never expires and its verification is based solely on mathematics, eliminating the need for any secrets or keys.GuardTime's Keyless Signatures enable data including insurance records, highly confidential documents, and reports for regulatory compliance audits to be securely stored online, in the cloud or in data archives, each with complete and undeniable proof of integrity.
A Red Herring Global 100 Winner and Frost & Sullivan Product Innovation Award Winner, GuardTime was founded in 2006 by cryptography experts Dr. Märt Saarepera and Dr. Ahto Buldas along with Internet visionary Joi Ito. GuardTime provides a completely-available service and infinitely-scalable Keyless Signatures engine designed to deliver authenticity and integrity for the data that the world relies upon: as it sits on disk, moves across the network, and is used in the cloud. Visit http://www.guardtime.com for more information about using Keyless Signatures for signing data.