Insurance companies are confronted with a growing number of complex and always-changing regulations established by federal agencies or an individual state’s Department of Insurance; many of these rules relate to the monitoring, tracking and reporting of policyholder information on a timely basis. Most legacy systems were not built to adapt to these types of frequent changes, but the costs of failure to comply are real: Billions of dollars in fines have been levied against insurers in recent years.
Ensure the consistent application of business rules and regulatory compliance standards through an integrated process automation solution. Automatically acquire, enhance and deliver the precise data required from any internal or external source. You will save your organization time and money by avoiding repetitive tracking and reporting activities, and reduce your risk of noncompliance fines.