CUNA Mutual Group has selected Wolters Kluwer Financial Services' enterprise risk management (ERM) solution suite, ARC Logics for financial services.
Wolters Kluwer said ARC Logics helps financial organizations bring transparency, traceability and efficiency to managing compliance, operational and financial risks, as well as to the audit function.
The solution’s modular approach enables insurance companies, securities firms and banks to fulfill their immediate risk management objectives in a targeted, cost-effective manner while allowing for expanded future usage of the same platform.
CUNA Mutual Group’s claims operations will deploy the Policies and Procedures module to automate and simplify the process of assembling, distributing and maintaining claims procedures.
In addition to ARC Logics and AuthenticWeb for Claims, CUNA Mutual Group also relies upon Wolters Kluwer’s NILS INsource, a web-based regulatory research tool for insurers.
CUNA Mutual Group vice president of claims Mark Martin said that working with Wolters Kluwer Financial Services, the company can create an accurate record of the policies and procedures relied upon by its claims adjusters, enhance claims procedures with rich compliance information, and easily maintain an audit trail of the considerations that were made regarding each adjusted claim.