Wolters Kluwer Financial Services today announced the release of NILS INcompass, a workflow tool that helps compliance and legal professionals monitor and implement ongoing regulatory changes within their insurance organizations.
With thousands of regulatory changes happening each year, insurance industry compliance professionals face great demands associated with ensuring new and changing laws and requirements are implemented throughout their organizations in a timely and accurate manner. NILS INcompass monitors an organization's progress in applying new industry laws and regulations and supplies detailed information about the changes to help users determine how these regulations apply to their business and the action steps that need to be taken.
"Our goal is to provide compliance professionals with a new way to look at regulatory change by helping them monitor their process and their compliance readiness," says David Evans, general manager of insurance compliance solutions for Wolters Kluwer Financial Services. "Both components are critical in order to show where the organization is as a whole in implementing regulatory changes and where potential risks might be."
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