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Compliance Solutions for Insurance

Compliance Solutions for Insurance

Navigating the regulatory compliance landscape can be challenging for insurance firms, especially for firms that operate on a large scale in multiple jurisdictions. Uncertainty about new and revised legislation adds another level of complexity. To avoid regulatory risk, insurance firms must observe both local and global compliance requirements.

Without a robust compliance program, firms risk regulatory actions, including fines or censures. Ruleguard’s compliance software solutions are designed to help manage different compliance policies and processes so firms can have constant access to information and changing conditions. 

Why Ruleguard for Insurance?

Facilitate monitoring Regulatory Developments

Ruleguard can help you deal with regulatory changes as they arise by assessing applicability and mapping to corresponding risks and controls.

Embed Compliance within your firm

Our solution provides complete audit trails including supporting evidence to demonstrate compliance. It addresses additional challenges related to managing incidents and breaches, making breach resolution more transparent.

Key features allow you to:

  • Save time and effort by using a centralised repository

  • Create a comprehensive audit trail

  • Improve governance and oversight of issues

  • Reduce risk of non-compliance due to regulatory change

Solutions for Insurance

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Operational
Resilience

Ruleguard can facilitate your planning for extreme scenarios, model your impact tolerances and identify investment gaps.  Firms can collaborate with third parties to easily identify gaps for investment and automatically create a resilience self-assessment document for board review.

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Regulatory
Updates

Ruleguard has built-in functionality designed to help firms to identify regulatory changes and assess their impact on their operational processes, policies, risks, and controls. Users have  access to a repository of regulatory content from multiple public and subscription sources. 

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Accountability
Regime

A fully configurable solution designed to streamline compliance with the requirements of the international accountability regimes including Senior Managers & Certification Regime and SEAR. Requirements supported include: fitness & propriety and T&C assessments, certification, MRMs, SORs and individual conduct breaches.

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Incident & Breach Management

Ruleguard users have access to a fully configurable incident and breach management solution to record, track, investigate and remedy any identified regulatory incidents/breaches and risk events and map them to the impacted rules, controls and operational processes.

Learn how Ruleguard can help reduce costs, improve efficiency and mitigate risk. 

Insights

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