MINNEAPOLIS--(BUSINESS WIRE)--Insurance industry professionals are constantly challenged with obtaining timely notification and thorough insight into regulatory changes that impact their business. To address this ongoing need for regulatory change management, Wolters Kluwer today announced a significant enhancement to its OneSumX NILS INsource® solution, an online research repository tailored to compliance, government, legal and regulatory affairs professionals working in the insurance industry.
This latest enhancement, the Premium Data Feed, provides a summary of all legislative and regulatory changes tailored to meet search parameters by state, line of business and business function, and delivers it daily in an XML or Excel format.
In addition to monitoring the regulatory environment for insurers, the Premium Data Feed also provides added context, including Priority Rating, Recommended Requirements, and Topics—three new attributes targeted specifically to reduce analysis time and assist in triage and reporting responsibilities:
- Priority rating – A priority rating is given to cases based upon the mandated time frame of the change, allowing users to focus first on relevant activity with the shortest lead time.
- Recommended requirements – Insurers can look to the Premium Data Feed’s recommended requirements for identified implementation actions, allowing needed information to be communicated quickly throughout an organization.
- Topic assignments – Cases are pre-tagged with insurance topics for use in reporting and auto-routing of content.
“Given the sheer volume and pace of today’s regulatory environment, the need to interpret how, where and when these changes must be applied can overwhelm even the most experienced compliance staff,” said Chuck Ross, general manager of Insurance and Investment Compliance at Wolters Kluwer. “The Premium Data Feed capabilities we’ve added to OneSumX NILS INsource help reinforce our continued commitment to addressing industry concerns and adding value to our products and service for our customers.”
More information on OneSumX NILS INsource can be found on the Wolters Kluwer website.
About Wolters Kluwer Governance, Risk & Compliance
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AppOne®, AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, Corsearch, TyMetrix® 360, Passport®, LegalVIEW®, GainsKeeper®, OneSumX®, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.