MADISON, Wis. – CUNA Mutual Group said it has contracted for Wolters Kluwer Financial Services’ enterprise risk management solution suite, ARC Logics for Financial Services.
The company said ARC Logics helps financial organizations bring transparency, traceability and efficiency to managing compliance, operational and financial risks, as well as to the audit function. The solution reportedly has a modular approach that enables insurance companies, securities firms and banks to fulfill their immediate risk management objectives in a targeted, cost-effective manner while allowing for expanded future usage of the same platform.
CUNA Mutual Group’s Claims Operations will implement the Policies and Procedures module to automate and simplify the process of assembling, distributing and maintaining claims procedures. The two parties said this will help bring visibility and accountability into the process, and provide compliance manuals to end users in an easy way.
Policies and Procedures also will connect with Wolters Kluwer Financial Services’ AuthenticWeb for Claims, which the company said helps insurance professionals quickly find regulatory information and identify state-specific requirements. Content and links to AuthenticWeb for Claims, which previously had been implemented by CUNA Mutual Group, now will be incorporated into an organization’s policy and procedures handbook.
In addition to ARC Logics and AuthenticWeb for Claims, CUNA Mutual Group said it relies on Wolters Kluwer Financial Services’ NILS INsource, a web-based regulatory research tool for insurers.
