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Edgile Insurance Property, Casualty & Life ArC

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Edgile's Insurance Property, Casualty & Life Automated Regulatory Compliance service is a specialized solution designed to streamline and automate the management of regulatory compliance for insurance organizations operating in the property, casualty, and life sectors. Integrated seamlessly with ServiceNow's Integrated Risk Management platform, ArC delivers harmonized laws, regulations, and industry standards directly into the organization's compliance framework. This service ensures that insurance companies remain up-to-date with evolving regulatory requirements, thereby reducing the risk of non-compliance and enhancing operational efficiency. Key Features and Functionality: - Comprehensive Regulatory Content: ArC provides access to over 850 harmonized laws, regulations, and best-practice frameworks, specifically curated for the insurance industry. - Automated Updates: The service delivers quarterly updates of new statutes, regulations, and standards, ensuring that organizations are always aligned with the latest compliance requirements. - Seamless Integration with ServiceNow IRM: ArC integrates directly into ServiceNow's IRM platform, allowing for efficient management of compliance data within existing workflows. - Regulatory Change Management: The service includes a Regulatory Change Management application that identifies necessary changes to policies, standards, and controls based on new regulatory developments. - Industry-Specific Customization: ArC offers tailored content for various industry verticals, including insurance, ensuring relevance and applicability to specific organizational needs. Primary Value and Problem Solved: ArC addresses the challenge of keeping up with the constantly changing regulatory landscape in the insurance industry. By automating the tracking and integration of regulatory changes, it reduces the burden on internal risk management teams, minimizes the risk of non-compliance, and enhances the organization's ability to respond proactively to regulatory developments. This leads to improved operational efficiency, reduced compliance costs, and a stronger overall risk management posture.

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