RCS - Insig AI Plc - New Product Launch

Insig AiAnnouncement

30/10/2023 07:15

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RNS Number : 6211R  Insig AI Plc  30 October 2023

REACH

30 October 2023

Insig AI plc

("Insig AI" or the "Company")

 

New Product Launch

 

Insig AI, the data science and machine learning company is pleased to announce
the launch of The Transparency and Disclosure Index ("TDI"). Using evidence
based analysis of more than 200 million machine readable sentences from
corporate disclosure documents, the TDI demonstrates what stakeholders and
market participants require: how well a company is disclosing non-financial
information and how transparent it is. Scoring highlights gaps that are
actionable for each company to remedy.

The TDI has been developed following discussions with FTSE 100 and FTSE 250
companies at CEO, CFO and Head of Investor Relations level. It also reflects
feedback from our data collaboration with the FCA's Techsprint, where the FCA
refers to Insig AI as a key contributor.

The TDI is a response to the plethora of non-financial information that has
now overwhelmed corporate reporting. Since 2015, the number of corporate
reports produced by FTSE 100 constituents has mushroomed by 626% from an
average of 2.5 reports per company to 17.5. In 2022, BT Group produced 47
separate reports and Tesco published 46 reports. It would take an analyst 18
months to collect and read the disclosures from the FTSE 100 constituents.

Machine learning and AI is able to digest this array of detail and distil down
to what corporate reporting is supposed to be about: informing the reader,
thereby allowing better decision making and actions.

The TDI framework is based on best practice principles behind the convergence
of reporting standards. Reports are compared to best practice, benchmarking
against peer groups, measuring website clarity and accessibility of documents.
It highlights where the range of sustainability documents is considered
excessive and flags where companies may be over-using certain keywords
identified as being commonly used in greenwashing without evidence and are
possibly misleading.

The TDI's objective is to simplify corporate reporting to what matters: easy
access and direct sight of the core issues of corporate disclosure. The TDI
gives corporates the evidence to limit disclosure to what is important and
examples of best practice.

The TDI focuses on the standard of corporate disclosure and transparency, not
a company's ESG credentials. Within the FTSE 100, the highest ranking 20
companies include Royal Dutch Shell, International Consolidates Airlines, Rio
Tinto, Anglo American, BAE Systems and BAT Industries. Lloyds Banking Group
and Rightmove are amongst the lowest scoring constituents.

 

Richard Bernstein, Executive Chairman of Insig AI commented: "The vast
majority of corporates want to do the right thing. However, because there
remains no definitive standard for what is required, corporates are
overloading information and defeating the object of providing clarity to
stakeholders.

 

Streamlining disclosure and making information easily available is urgently
required. The TDI provides objective, constructive and actionable information
for companies to do just that."

 

A demo of the Transparency and Disclosure Index can be accessed here:
https://tdi-demo.insg.ai/ (https://tdi-demo.insg.ai/)

 

 

For further information, please visit www.insg.ai or contact:

 Insig AI plc

 Colm McVeigh (CEO)                        colin.mcveigh@insg.ai (mailto:colin.mcveigh@insg.ai)

 Steve Cracknell (Chief Product Officer)   steve.cracknell@insg.ai (mailto:steve.cracknell@insg.ai)

 

This is a Reach announcement and the information contained is not considered
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