Q. What are your regulatory challenges?
Tracking regulatory changes across State and Federal Insurance Regulators in the US, Central and National Insurance regulators in Europe and additionally Insurance Regulators across the rest of the world, coupled to government legislation and emerging data privacy and security regulations is becoming ever-more burdensome. Manual methods of tracking means adding more bodies to the compliance teams, continuously driving the cost of compliance up.
Q. What makes Corlytics a unique solution?
As a strategic business partner, Corlytics tracks all regulatory data from applicable insurance regulators, using auto-routing to assign relevant updates, carry out impact assessments and deliver this data in an easy to digest digital format. The solution also provides full auditing and tracking for an evidence based view of how regulatory changes are handled within the firm.
Q. How does it work and why it’s needed?
Global insurers need this automated technology for their expert compliance staff to bring order to regulatory change data. This enables them to stay on top of all regulatory obligations and regulatory changes, thereby reducing regulatory risk.