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 ServiceNow Governance, Risk, and Compliance 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.
ServiceNow’s true SaaS platform is designed to allow seamless data integration between the various ServiceNow GRC modules. Its flexible design allows the solution to scale to the GRC needs of your organization.
With the ServiceNow GRC solutions, insurers can document, track, and manage all GRC initiatives at all levels of the organization. The ServiceNow solutions helps 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 ServiceNow GRC solution helps 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.
Call Rede Consulting, Compliance team for your requirements at info@rede-consulting.com.
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