Financial Services Financial Services

At Sword Achiever we understand the monumental pressures that affect the Financial Services industry in terms of Governance and Compliance. With a mounting number of regulations such as Basel II, SOX, Solvency II and AML, the monitoring and management of compliance is becoming critical.

Couple this with increased regulation from governing bodies such as the FSA and threats from internal and external fraud and the dangers of noncompliance are severe.

However, a thorough adoption will provide benefits including increased transparency, more effective management of risk and capital leading to increases in profitability overall.

At Sword Achiever we understand the monumental pressures that affect the Insurance industry in terms of Governance and Compliance.  Both in the US, through the SOX and the Model Audit Rule, and in the EU, through Solvency II, the monitoring and management of risk is becoming a matter of urgency within Insurance companies. Couple this with increased regulation from governing bodies such as the FSA and the dangers of noncompliance are severe. However, a thorough adoption will provide benefits including increased transparency, more effective management of risk and capital leading to increases in productivity overall. By implementing Sword Achiever you can ensure that:

  • You meet the ever increasing number of regulations such as Solvency II, SOX, MAL, FSA requirements
  • You have the tools to promote good governance, effective compliance and business improvement by managing risk through a seamless link between documented processes and their associated risks
  • You move away from multiple “silo” based GRC solutions to a single system ensuring visibility and control
  • Your ISO 27001 obligations are met through document management, risk control, training and equipment management all controlled and improved through audits and issues management in one system

Healthcare Insurance

Sword Achiever understand the continued pressures the Health Insurance industry faces to maximise premium income, increase numbers of lives covered with a high quote-to-live conversion ratio and retain customers year-on-year, while minimising claim and expense ratios. It is our goal to help Health Insurance businesses deliver these goals across all stakeholders and increase operational profit in tandem with the provision of good customer service and fulfilment of the implicit duty of care.

The challenge though is so often not in determining the solution but identifying and understanding the problem.

Through a dashboard model and a focus on the specifics and nuances of domestic and international health insurance operations, AchieverPlus is in a unique position to make a substantial & positive difference.  It helps insurers, MGAs and TPAs across the spectrum, from relatively small niche players through to large multi-national organisations.

  • Business Performance - Before any improvements can be made, overarching KPIs and objectives are identified and set. Any deviation from the targets automatically triggers alerts so investigative actions can be undertaken.
  • Regulatory Compliance - Setting and controlling regulatory objectives including Treating Customers Fairly and following the proper process for addressing customer complaints. Portals and surveys allow for customers to give direct response with automatic alerts and escalations driving issues through to resolution.
  • 3rd Party Management - 3rd party details are managed within the solution either directly or through integration with existing systems. Risk based due diligence is undertaken and audits carried out against high risk areas. Any failings automatically lead to a removal from approved status until actions have been carried out through to resolution.

 

 

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