Survey: Insurers’ Regulatory Change Management Falling Short

Many compliance executives working in the U.S. insurance space admit to a lack of consistent structure, lack of institutionalized processes for sharing regulatory information and disjointed use of technology.

INN Breaking News, April 22, 2013

Carrie Burns

Current organizational processes for managing regulatory change are falling short for insurers, according to recent survey results. Compliance Assurance Corporation (CAC) conducted a poll during “Managing the Hydra of Regulatory Change,” the first installment of CAC’s Compliance 2.0 webinar series. The provider of regulatory compliance solutions for the insurance industry asked attendees to classify their organizations’ processes using a five-level governance, risk management and compliance (GRC) framework to measure the maturity of an organization’s process for managing regulatory change in the context of a dynamic and shifting regulatory environment. The framework, from analyst firm GRC 20/20 Research, includes the levels of ad hoc, fragmented, managed, integrated and intelligent.

Get access to this article and thousands more...

All Insurance Networking News articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive industry white paper downloads, web seminars, podcasts, e-books, and conference discounts. Qualified members may also choose to receive our free monthly magazine and any of our e-newsletters covering the latest breaking news, opinions from industry leaders and developing trends.

Already Registered?

Advertisement

Free Site Registration

Advertisement