Nasdaq's BWise (NDAQ), a global leader in enterprise governance, risk management and compliance (eGRC), announced that it has been selected by PortoSeguro, one of Brazil's largest insurance companies, to help support its new business risk management process.

Porto Seguro will use BWise for Internal Audit, Internal Control, Compliance and Operational Risk Management as well as to support its new loss database for compliance with Superintendencia de Seguros Privados (SUSEP), a local regulation institution for insurance companies.

The BWise(R) GRC Platform will not only provide the technology to support the initiative but will also help Porto Seguro adapt to the new enhanced business risk management process. The BWise solution will help standardize the methodologies across the organization, provide one source of integrated information, enable better risks and controls analysis, and streamline overall risk management.

"We now have an integrated approach allowing a convergence between the functions of Risk Management, Internal Control and Compliance," said Reinaldo Pontes, Internal Audit Manager, Porto Seguro.

BWise is a Nasdaq company and positioned by independent analysts such as Forrester and Gartner as a leader in enterprise GRC Platforms. BWise has sales, service and support offices around the world.

Porto Seguro operates in all lines of insurance: Automobile, Company Health, Business, Patrimonial, Life and Transportation, through the companies Porto Seguro, Porto Seguro Saude, Porto Seguro Vida e Previdencia, Porto Seguro Uruguay, Azul Seguros and Itau Auto e Residencia.

Among the businesses of the Group, it is also recognized for Consortium of Real Estate and Automobiles, Providence, Investments, Financing, Credit Cards, Protection and Monitoring, Condominium and Residence Services and Telecommunications.