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As rules and regulations expand within the insurance industry, document archiving and compliance face new and unique challenges that require systems with increased flexibility, strong security, and accurate accountability. Insurance companies are subject to governmental regulations that often vary from state-to-state, as well as the wide array of standards set by the industry itself. This year, far-reaching legislation in the health insurance and financial fields will have significant impact on companies’ internal and external operations adding to the need for more extensive and specific record-keeping. Existing policies for health care, property and casualty, and other types of insurance may have to be restructured to meet new direct mandates on insurers, as well as fulfilling the changing regulatory requirements of their clients’ businesses. Insurance companies can also expect new compliance rules created by new and existing governmental agencies seeking information and documentation.Recommended Stories
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