CHARLOTTE, N.C.--(BUSINESS WIRE)--SCOR Global Life announced the receipt of its SOC2 Type 2 Report regarding the effectiveness of its controls over the Velogica automated life underwriting system.
Dave Dorans, Senior Vice President of SCOR Velogica, explains: “We received the SOC2 Type 1 Report late last year attesting that we had controls in place. But the Type 2 Report is the real goal because it provides third party confirmation that our controls have been reviewed over time and are operationally effective.”
The report, based on the AICPA’s Trust Services Principles and Criteria for Security, Confidentiality and Availability, is an independent third-party examination that demonstrates the operational effectiveness of SCOR’s key compliance controls and objectives as they relate to the Velogica system.
System security and compliance protocols have been a top priority for the SCOR Velogica team. “We’re very pleased to have achieved the SOC2 Type 2 Report,” Dorans said, adding, “It validates our hard work and gives confidence to current and prospective Velogica clients that the Velogica platform incorporates stringent security, confidentiality and availability practices to protect client data from compromise.”
The security of shared data is a growing concern for companies. “Our achievement of the SOC2 Type 2 report demonstrates our success at operationalizing the controls listed,” said Clarke Rodgers, Director, Cybersecurity and Privacy for SCOR Velogica, “and that we’ve embedded the critical processes into our daily workflow. This discipline demonstrates the operational maturity of our security program.”
Velogica – which has processed nearly 2.5 million life insurance applications – continues to build on 10 plus years of experience.
About SCOR Global Life
SCOR Global Life is a leader in the life reinsurance market in the Americas providing solutions to companies in the U.S., Canada and Latin America. A full service reinsurer, SCOR Global Life offers broad capabilities in risk management, capital management and value-added services and solutions.
Offices in the US are located in Charlotte, NC, Leawood, KS and Minneapolis, MN.
SCOR Global Life is part of the SCOR Group, one of the largest reinsurers in the world with a unique track record of growth and commitment to partnering with clients. SCOR Global Life is a top five global life reinsurer. Its expert teams have been providing worldwide clients superior reinsurance products and services for more than 40 years with an approach based on the development of long-term relationships with clients.