Insurers can analyze risk by business unit, risk category or region; prioritize remediation of the most urgent issues; and address risk before the associated issues become problematic, according to Wolters Kluwer.
The company says the ARC Logics for Financial Services insurance compliance risk management framework is organized around the structure of the
ARC Logics for Financial Services is a modular integration of policies and procedures, risks and controls, program management and audit, which together, provide a common collaborative platform to monitor, measure and manage compliance and operational risk across all business lines and legal entities, says Wolters Kluwer.