With Brokers now under increasing pressure from regulators, the issues of risk management and compliance are top of many agendas. The introduction of the Consumer Protection Risk Assessment (CPRA) model, the Insurance Distribution Directive (IDD), the General Data Protection Regulation (GDPR) and many other pieces of legislation, has added additional layers of complexity to your business. Keeping up-to-date with the expectations of several different regulators is like trying to navigate a minefield; Brokers must manage everything from consumer protection to money laundering risks; from minimum competency to data protection compliance; and keep them all under control.
Assigning, tracking and completing action items using manual systems or on spreadsheets can be time consuming; while trying to report from these systems can lead to inaccuracies and overly detailed reports. These inefficiencies could result in you missing legislative compliance obligations and being exposed to regulatory sanctions.
CalQRisk is an online Governance, Risk Management & Compliance solution for insurance intermediaries. The system is user-friendly, easy to implement and is backed-up by our first-class support team. We encourage feedback from our active user group on the design and functionality of the solution, ensuring it continues to satisfy the needs of the sector.
