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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 areas where KnomAI can easily build workflows and tailor them to your specific needs.
Manage risk associated with functions that are managed by third parties including compliance supervision and quality control.
Create consistent regulatory reports storing comprehensive information and documentation for analysis of multiple-source data.
Quickly and easily monitor compliance to privacy regulations such as CCPA/GDPR and set up compliance programs for third-party providers collecting data.
Ensure compliance to the Insurance Data Security Model Law and identify cybersecurity events to comply with notification requirements, creating auditable reports for management.
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Insurance Data Security Model Law - NAIC