(Image credit: Gerd Altmann.)
Ethos (San Francisco), an InsurTech distributor with the stated mission of transforming life insurance, has turned to Wolters Kluwer Compliance Solutions (Alphen aan den Rijn, Netherlands) to manage compliance. To strengthen its regulatory compliance and market conduct examination capabilities, Ethos has selected NILS INsource. It has also implemented NILS MCE for Life and Health to augment its market conduct examination program efforts, according to a Wolters Kluwer statement.
“Traditionally, the market conduct examination process had been a complex, time-consuming activity that expended considerable team resources,” comments Peter Colis, CEO and Co-founder, Ethos. “The NILS solutions are helping re-write that process, expediting the research and analysis of completed market conduct examination reports as well as facilitating our ability to prepare for and respond to market conduct examination results. Our compliance program efforts are markedly enhanced through the combination of these two offerings supporting our team.”
Wolters Kluwer describes NILS INsource as a web-based tool for efficient and effective research, allowing insurers to monitor the vast array of regulatory content and to readily assess compliance ramifications of evolving insurance obligations. “Insurance compliance professionals can obtain focused, accurate content in significantly less time by leveraging the tool’s uniquely indexed insurance content, thus providing greater accuracy and more relevant search results, and vastly enhancing their compliance efforts,” a vendor statement says.
The web-based NILS MCE for Life and Health solution delivers an easy-to-use market conduct research tool, helping insurance companies research prior market conduct exam reports and enforcement orders, prepare and respond to current examinations, and maintain compliance with market conduct requirements, according to the vendor.
“The NILS INsource suite of solutions gives insurers a solid foundation upon which to manage the breadth and complexity of ever-changing regulatory compliance obligations they face,” comments Steven Meirink, EVP, General Manager, Wolters Kluwer Compliance Solutions. “We are excited to provide Ethos with these enhanced capabilities to augment their ongoing market conduct exam and compliance initiatives.”