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As insurance companies adopt digital transformation, they are dealing with legacy systems which are difficult to update and novel compliance issues to manage. Additionally, they navigate a complex regulatory landscape and must establish compliance at all levels, locally, state-wide and internationally,
whilst always under pressure to act quickly to comply with evolving risk environments.
KnomAI helps insurance companies deal with
complex regulatory environments and manage compliance in a fast and easy way, enabling them to
quickly integrate new regulations in their compliance processes and manage ever-changing risk efficiently.
Build Your Solutions
Here are some use cases where KnomAI has worked with insurance companies to provide workflows and solutions tailored for them. Our platform enables you to create your own workflows to solve similar issues.
Compliance to Cybersecurity Regulations
The Challenge: A large insurance company needed to ensure compliance to the Insurance Data Security Model Law with geographical specificities based on States’ laws and an evolving regulatory environment..
Our Solution: Build a set of automated workflows setting out geography-based cybersecurity compliance requirements for step by step compliance, non-compliance flagging and remediation action.
Cybersecurity Event Notification Requirements
The Challenge: A large insurance company needed to ensure the Insurance Data Security Model Law's requirements for notification of authorities in case of a cybersecurity event
Our Solution: Create a workflow accessible to all stakeholders to be able to identify a cybersecurity event, assess that it needs notification and carry out the notification process. Create a workflow to comply with Insurance Data Security Model Law
Environment, Social, Governance
The Challenge: A global insurance company was setting up their ESG programme with a focus on replicability of the processes for data collection and assessment as well as tracking progress on ESG journey.
Our Solution: combine the consultancy firm's domain expertise and our technology to offer solutions in the ESG space in particular the materiality analysis with surveys and interview processes built and distributed on our platform, follow-up and engagement with stakeholders within the platform and continued updating and refining of materiality results through our platform and tracking of progress against recommendations.
CHECK OUT OUR WORKFLOW
Insurance Data Security Model Law - NAIC
QUALITY ASSURANCE
AUDITABILITY
SECURITY
