Wolters Kluwer says that, with 2011 on track to be another high-volume year from a regulatory and legislative perspective, managing regulatory change has never been more critical to the insurance industry. During the first three quarters of 2011, state legislatures and Congress introduced nearly 11,000 bills affecting insurers. Additionally, more than 18,580 statutes, regulations and bulletins were newly created, revised or issued during that timeframe. As a result, the challenges of managing both the volume of activity and the required process implementation changes can be daunting for insurers.
NILS INcompass is designed as a workflow tool that helps compliance and legal professionals monitor and implement ongoing regulatory changes within their insurance organizations. The solution also helps insurers keep track of their progress in applying new industry laws and regulations, says Wolters Kluwer. The latest NILS INcompass enhancements allow users to accomplish required tasks in less time; gain greater control and a clearer picture of risk; and increase awareness of compliance-related documents.
