The insurance industry faces many different types of risk including actuarial risks, credit risks, and catastrophic risks. The ServiceNow Risk Management solution for insurance companies enables insurers to identify, assess, quantify, monitor, and manage risks in accordance with industry best practices.
Rede's solution for the Insurance industry includes:
Risk heat maps
Risk and control assessments
Automated alerts
Risk analytics
Key performance indicators (KPIs)
Key risk indicators (KRIs)
The Enterprise Risk Management solution for insurance companies enables the organization to improve the effectiveness of its risk assessment and mitigation programs and lower loss rates. The application deeply integrates with other key GRC solutions, giving management greater access to information for more informed strategic enterprise-wide decisions. The Enterprise Risk Management helps the organization create a culture of increased risk awareness – reducing risks while lowering costs.
Flexible Enterprise Risk Management Software
The Enterprise Risk Management solution is a fully integrated, easy-to-use, cloud-based SaaS solution that enables you to identify and proactively address risk across the enterprise. In addition, it also helps align your risk management with corporate decision-making to strategically make the right resource decisions at the right time.
Enterprise Risk Management The Way You Work In general, many of the enterprise risk management solutions force you into a particular assessment model limiting your flexibility and increased learning curve. However, ServiceNow works the way you work by enabling you to choose either a process-based or scenario-based risk assessment model. It helps create a compliant and coordinated risk program that adds operational value to your organization, without learning new methodologies.
One Solution for Risk Management ServiceNow has easy-to-use customizable capabilities to streamline your risk management processes enabling your organization to set its risk priorities. It brings together all your risk management needs into a single solution, including:
Identifying your enterprise-wide processes, assets, or scenarios
Assessing each process or scenario according to a common risk framework
Prioritizing your limited risk management resources
Mitigating your risks to prevent loss
Monitoring past losses
Managing policies and procedures
Capabilities You Need to Succeed With Our team anticipates and swiftly respond to changing business conditions, as well as monitor your overall business risk. Capabilities for business risk management can allow you to:
Create and manage a business process library
Ensure Regulatory compliance with frameworks based on NCUA, FDIC, or OCC regulations
Gain real-time visibility into risk exposure with automatic risk calculations
Prevent future losses and operational surprises with Loss Tracking
Improve accountability and transparency with Executive Reporting
Quickly deploy with customizable dashboards, fields, and reports
Import, convert and integrate with any data source for easy implementation and maintenance
Integrate Information Security and Technology risk assessment
Enforce organizational standards and consistency in the risk/control environment
Our team of Experts, will be more then happy to discuss and consult, so that your organization is always Compliance Ready. Mail us at info@rede-consulting.com.