Managing reform, risk and regulation; a platform for competitive advantage
For insurance providers, risk is a core business. However, there are some gambles which they can’t afford to take. The demand for online and mobile service delivery, the scale and sophistication of cyber-crime, and a renewed focus on data and regulation by government authorities with the introduction of regulations such as Solvency II have all placed considerable strain on Governance, Risk and Compliance operations.
The need to compete – or at the very least protect – business on a global scale in the increasingly digital economy has also meant that insurance organisations need to be aware of regulations in multiple countries.
If an insurance provider can’t meet these requirements, the result can be a number of significant and business-critical impacts, from service availability failures, customer data loss, fraud, terrorism financing and money laundering. Inability to mitigate or manage these issues can be detrimental to an organisation’s reputation, public image, and perceived reliability from a customer perspective, as unwelcome attention from regulators and the media.
Moreover, with a growing compliance burden around transparency, disaster recovery, capital reserves, even employment law, compliance programmes are demanding a high proportion of management attention and resources.
How we help our clients
Advanced analytics are important to develop foresight. Whether you are seeking assurance that your processes and procedures are robust enough to help you cope with a disruption as part of your annual internal or external audit, or you are looking to update your processes following an organisational change, Atos can provide a solution to meet your requirements.
Our regulatory compliance and security offering combines the strength in security and information risk, experience gained in roles such as IT partner for the International Olympic Committee, with a dedicated business risk and compliance practice. We also offer a number of other solutions, including Imperva Web Threat Protection for Financial Services and OFSAA