Regulatory requirements for the Insurance industry are on the rise from both state and federal agencies. In addition to the increasing regulations, customers and clients are requiring more service, while management and investors are requiring greater ROI from software, services, and systems to show greater profitability. These regulations and pressures are compelling insurance companies to streamline their processes.
With the Quantivate Governance, Risk, and Compliance software suite for insurance companies it is easy to integrate distinct yet interdependent disciplines such as business continuity, third party risk management, information and IT security, audit management, regulatory compliance, and enterprise risk management. Quantivate’s true SaaS platform is designed to allow seamless data integration between the various Quantivate GRC modules. Its flexible design allows the solution to scale to the GRC needs of your organization.
With the Quantivate GRC solutions, insurers can document, track, and manage all GRC initiatives at all levels of the organization. The Quantivate solutions will help insurers implement reliable and cost-effective GRC processes for risk management, internal audit, business continuity, third party management, IT and information security, and regulatory compliance.
The Quantivate GRC solution will help insurance companies meet new and changing NAIC Model Audit Rule, Solvency II, GLBA, AML, ORSA, CFPB, HIPAA, State Exchange rules, Market Conduct Regulations, and many other regulatory requirements.
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Quantivate Regulatory Compliance Manager (RCM) provides a strong software solution for compliance managers to manage a wide variety of regulatory and compliance processes and ensures accountability throughout the organization. The software delivers key features to monitor pertinent regulations and other requirements, organize compliance documentation, run risk assessments, and demonstrate proof of compliance through robust reporting. The solution helps organizations remain compliant with Solvency II, NAIC-MAR, GLBA, HIPAA, CFPB and other regulatory bodies.
The Quantivate Regulatory Compliance solution for Insurance companies allows an organization to: