The session provided a snapshot of regulation in the financial services industry, including the impact of COVID-19, and outlined hands-on best practices for ensuring effective compliance.
RegEd, the leading provider of compliance technology solutions for the financial services industry, recently presented a webinar Regulatory Change Management: The State of Insurance Regulation and Compliance Best Practices in a Pandemic World. The webinar was co-hosted with The Association of Insurance Compliance Professionals (AICP), an organization offering the insurance industry compliance and ethics education, training, and opportunities to engage with industry experts and regulatory authorities.
Regulation of the insurance industry has been significantly impacted by the COVID-19 pandemic, resulting in an escalating rate of new and changed rules and regulations, building on the trajectory of recent years. Regulators, including state and federal entities, continue to expect insurers to administer effective programs for monitoring, tracking and implementing new and changed regulations amid the pandemic.
This presentation featured an expert panel including Merlinda Johnson, FLMI, ACS, Director of Insurance Regulatory Compliance at RegEd; Margie Webber, Director of Regulatory Compliance BD/IA at RegEd; De Keimach, ALMI, ACS, AAPA, AIRC, Director of Compliance at Delaware Life Insurance Company; and Debra Freitag, Chief Strategy Officer at RegEd. Panelists provided an overview of the regulatory landscape, including the influence that the pandemic has had on the volume and nature of regulation, and delivered a case study on the ways one leading insurer is applying technology and process best practices to streamline regulatory compliance.
“The pandemic has exacerbated trends that have been ongoing for years, as the avalanche of regulatory information that inundates insurers has continued to grow. As a result, a workflow-enabled, closed loop process for managing regulatory change has become more important than ever,” stated Debra Freitag, Chief Strategy Officer at RegEd. “As a longtime supporter, we value the important work that AICP does for the industry, and we appreciated the opportunity to present this session to their membership.”
RegEd is the market-leading provider of RegTech enterprise solutions with relationships with more than 200 enterprise clients, including 80% of the top 25 financial services firms.
Established in 2000 by former regulators, the company is recognized for continuous regulatory technology innovation with solutions hallmarked by workflow-directed processes, data integration, regulatory intelligence, automated validations, business process automation and compliance dashboards. The aggregate drives the highest levels of operational efficiency and enables our clients to cost-effectively comply with regulations and continuously mitigate risk.
Trusted by the nation’s top financial services firms, RegEd’s proven, holistic approach to RegTech meets firms where they are on the compliance and risk management continuum, scaling as their needs evolve and amplifying the value proposition delivered to clients. For more information, please visit www.reged.com.
About The Association of Insurance Compliance Professionals® (AICP)
The Association of Insurance Compliance Professionals® (AICP) offers the insurance industry exceptional compliance and ethics education, training, and opportunities to engage with industry experts and regulatory authorities. AICP has earned a reputation for some of the best educational programming available to novice and experienced compliance individuals. With 9 Association Chapters supplementing the work of the national organization, our members are comprised of personnel from property, casualty, life, annuities and health insurers, regulatory agencies, consultants and product & service providers.