Case study #2 Corlytics for a global insurance provider
CLIENT:
Our client leads in reinsurance and insurance across wholesale and retail markets. Additionally, they manage assets generated within their reinsurance business. Founded over 150 years ago, they are headquartered in Europe and maintain a strong presence across Europe, APAC, and America.
SITUATION:
The client’s strategy is proactive, keeping them ahead of regulatory changes. They aim to go beyond requirements by setting up clear policies, standards, and procedures for both local and global needs. Seeing this need, they chose to adopt new tech and move away from manual methods of collecting and managing regulatory data, which lacked an audit trail.
Without set workflows for regulatory data and tools for team collaboration, they struggled with oversight and tracking. It was hard to see if a regulation had an impact, understand its type, and take action. To fix this, they looked for an automated system to process regulatory content, allowing them to run impact checks and business reviews while supporting teamwork across legal, compliance, and other departments.
SOLUTION:
To boost automation and collaboration, our client looked for a single platform to improve operations and align with their strategy. This platform needed to provide essential regulatory notifications and analysis, with plans to add new content, starting with Latin American regulatory data.
They chose Corlytics for its simple workflow, easy integration, and fit with existing processes—avoiding the need for a complete overhaul.
The solution deployed, Corlytics Regulatory Monitoring combined with Corlytics Risk Impact Assessment Workflow, provided the collaboration and oversight they required. This setup enabled dispersed teams to share regulatory documents from a single source. User updates and inputs were collected in a structured format, enabling impact reports on regulatory events across the client’s business lines, jurisdictions, and interests. The implementation included a requirements and design phase, a proof-of-concept stage, and digital governance clearance to establish Corlytics as an approved third-party supplier.
OUTCOME:
Our client successfully implemented new technologies to strengthen and enrich its processing models. Now, the team operates with a robust, fit-for-purpose model that’s both repeatable and efficient. This new workflow bridges geographic and informational gaps, fostering greater collaboration. As a result, they’re achieving improved operational outcomes while driving innovation across the group.
“Corlytics’ platform uniquely addresses the requirements of our client to remain firmly on top of its regulatory obligations. We are impressed with our client’s commitment to excellence within its business across its global network, setting the benchmark in applying policies and standards in terms of regulatory obligations.”
Hazel Dowling, Corlytics
Benefits
A reduction in manual handling time
locating and uploading regulatory data from regulator websites allowing staff to work on higher value activities.
This is a risk proofed operations model with reduced manual handing errors and missed publication notices and updates
Oversight of the full
regulatory lifecycle
across jurisdictions, business lines and theme specific regulations.
Assessments (CRAs) can be carried out through the use of impact assessments
A single operational model
across multiple jurisdictions streamlined, with an audit trail and management information reporting, brings
Increased accuracy and ease of building Compliance Risk
Solutions
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