The Insurance Regulatory Information System ( IRIS ) is a database of insurance companies in the United States run by the National Association of Insurance Commissioners. IRIS is designed to provide information about insurers' financial solvency. Rating method IRIS uses the financial state...
Learn how the Insurance Regulatory Information System (IRIS) tool works, what the IRIS ratios are, and why consumers benefit from these calculations.
The first state commissioner of insurance was appointed in New Hampshire in 1851 and the state-based insurance regulatory system grew as quickly as the insurance industry itself.[4] Prior...
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comprehensive information necessary to fulfil its mandate;... Membership in a deposit insurance system should be compulsory... or regulatory authority, criminal or investigative authorities...
The insurance industry has been considerably slow-paced in shifting towards technological innovation. That explains why many insurance companies still struggle with legacy banking systems with slow and flawed policy management workflows. For insurers to adapt to the changes in the modern insurance landscape and embrace digital transformation, they need advanced policy administration systems (PAS). A PAS tool can automate policy processes for greater efficiency, create customized products for every market, and handle the entire policy lifecycle ...
Published on 28 September 2016 · This Prudential Regulation Authority (PRA) policy statement (PS) provides feedback to those responses relating to the proposals on regulatory references in consultation paper (CP) 36/15 ‘Strengthening accountability in banking and insurance: regulatory references’ (see related links) that were not addressed in the first set of final policy in PS5/16 ‘Strengthening accountability in banking and insurance: Implementation of SM&CR and SIMR; and PRA requireme...
Big tech players tackle tech challenges in legacy systems amidst digital vulnerabilities. A growing consensus amongst insurers that integrating technology is proving to be the most challenging aspect, despite their successes built on legacy systems. However, this digital shift has increased vulnerabilities, leading to a rise in data breaches, phishing attacks, and ransomware incidents, which have surged by almost 20% annually. Industry experts tell the urgency to adopt comprehensive technology a...
The Unfair or Deceptive Acts or Practices (UDAP) Rule is now approved ; Take All Comers information for Industry ; Territories Test and Learn Environment
Claims Management Systems · Underwriting Systems · Billing and Accounting Systems · Insurance CRM Systems · Insurance Analytics & Reporting