During the summer months Software AG Belux participated in the Governance, Risk and Compliance Packages for Insurance - 2011 Market Survey which was conducted by Deloitte Luxembourg.
The objective of the Survey was to evaluate the different GRC solutions on the market that are aimed at supporting insurers in implementing the processes involved within a company-wide internal control system. Insurers are subject to more and more legislations and regulations both national (e.g. CBFA circulars in Belgium) and international (e.g. SOX, Solvency II) and to comply with them they need to set up an effective internal control system. In particular Deloitte consider that the advent of Solvency II in January 2013 is a major driver for insurers to look for a GRC package to support them in becoming compliant. Hence they believed it was important to evaluate what GRC tools were out there in the market place.
The survey process started in May when we had to answer an RFI with 350+ questions covering the technical and functional capabilities of our ARIS GRC Solution and the new ARIS Solvency II Content Package. This was followed by an in depth presentation of our solution to the GRC experts at Deloitte.
We are very pleased to announce that the Survey rated the ARIS GRC solution as scoring highly (3 or more out of a maximum of 4) in all categories that were assessed – great news! The following strengths were highlighted by the Deloitte Survey team in their executive summary:
Strengths
• Integration with ARIS Business Designer creates a deep link between strategy, processes and risks.
• Library of high level content linked to standard regulations.
• Advanced dashboarding capabilities thanks to MashZone.
To see the final report from Deloitte please click on the link below.
/system/files/editor/files/Deloitte - GRC Packages for Insurance Market Survey - Software AG.pdf
Thu, 11/19/2015 - 17:47
