We asked four leading insurance product and service providers pertinent questions about regulatory compliance and the services that their respective companies offer. Their compelling answers are below and on the following page.INN: In what ways can insurance carriers minimize the cost of compliance?
Timothy Plunkett, PeopleSoft: Death, Taxes, Insurance and now Regulatory Compliance, four things you can always count on. The best way to approach compliance is to treat it like a best practice. Work flow and process flow systems need to be put in place to assure that the reports are produced in a timely manner. In addition it is critical that EPM applications such as scorecard be in place so that progress can be monitored in real time and adjustment made accordingly.
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