As regulators in various markets introduce new rules, laws and guidance, it can be a full time job for a team of experts to keep na insurance brands 100% compliant. ESG and Net Zero regs add another new layer on top of existing financial solvency, consumer rights, standard exclusions, local laws or customs etc. So the time is right to automate your compliance package. Here’s some news from Corlytics;
Solidatus, a data management solution that empowers organizations to connect and visualize their data relationships, and Corlytics, a supplier of regulatory risk intelligence that combines innovative technology with deep legal and industry expertise, have announced an ambitious partnership. That partnership will empower users who are customers of both companies to map regulations from across the globe to their entire data estates, matching them with their systems, policies, processes and people.
The combined solution sees digitized regulatory content from Corlytics automatically pulled into Solidatus regulatory data catalogs and linked to data lineage models where they can be mapped to companies’ processes, policies, controls and systems. This will enable better-informed decisions and allow firms to show that they’re compliant.
Corlytics Founder and CEO, John Byrne said: “This brings huge synergies to the day-to-day work of data practitioners. Combining the added value of Corlytics’ content with Solidatus’ lineage models across firms’ IT infrastructures gives users the unique ability to map their compliance with regulations holistically, tracing lineage across all internal control systems. This means they can more easily identify the impact of regulatory change and demonstrate full compliance with regulations, ultimately delivering ‘front-to-back’ compliance.”
Solidatus CEO and Co-Founder, Philip Dutton said: “Increasing rapid change in the regulatory landscape places exponential pressure on data governance and compliance practitioners. It also forces organisations in heavily regulated industries to spend a disproportionate ratio of funds on regulation and fine avoidance, which in turn strangles their innovation and agility. Our partnership with Corlytics provides end-to-end transparency from regulatory obligation, through implementation to regulatory evidence. It enables automatic and instantaneous impact assessment of regulatory change on an organisation, streamlining compliance processes and accelerated execution all the while providing an immutable record of compliance.”
You can read more about what this means for data practitioners in this new blog post: How combining software platforms can help ensure your regulatory compliance.
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