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.
CalQRisk stands out as a system which has all the areas covered leaving nothing out when it comes to helping a company become or maintain an acceptable level of compliance within the industry. We considered using an external compliance company but have found that CalQRisk has been able to fill this gap for us without the additional costs of an independent company or advisor. I would highly recommend CalQRisk to any company who is considering looking at the compliance process within their company.”
CalQRisk is essential for any organisation that needs a risk management / compliance solution that will evolve with their business and provide them with the essential ingredients that will allow them manage their risks on an on-going basis