Wolters Kluwer Financial Services has embedded specific compliance and regulatory intelligence relevant to the US insurance industry into its enterprise risk management (ERM) technology platform, ARC Logics for Financial Services.
Wolters Kluwer Financial said that the new Risk and Controls module for insurance will help insurers better understand and evaluate the status of risk across their entire organization.
With the enhanced solution, insurers can analyze risk by business unit, risk category or region; prioritize remediation of the most urgent issues; and address risk before the associated issues become problematic.
ARC Logics for Financial Services solution is a modular integration of four risk management components that include policies and procedures, risks and controls, program management and audit.
Wolters Kluwer Financial Services vice president and general manager of Enterprise Risk Compliance business Todd Cooper said, the enhanced Risk and Controls module will help insurers make informed decisions about risk across multiple business areas and track and prevent issues that have the potential to impact an organization’s risk profile.