Wolters Kluwer Financial Services has embedded specific compliance and regulatory intelligence most relevant to the U.S. insurance industry into its enterprise risk management (ERM) technology platform, ARC Logics for Financial Services. Wolters Kluwer says the Risk and Controls module for insurance helps insurers better understand and evaluate the status of risk across their entire organizations.
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 NAIC Market Regulation Handbook, which provides insurers with a risk management approach that is aligned with examiner expectations.
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.
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