Many insurers lack structure in managing regulatory changes, survey finds

04/22/2013 | Insurance Networking News

Many insurers are missing a consistent structure, information-sharing processes and technology use in managing regulatory changes, according to a survey by Compliance Assurance. The industry faces more than 3,500 regulatory changes at the state level per year, said Compliance Assurance CEO Jerry Shafran. "To reduce risk and remain competitive, insurance organizations are wise to evolve their execution of regulatory change management to a more effective and efficient process, one that is scalable and consistently meets the demands of business and regulatory environments," Shafran said.

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