Strengthening governance, risk and compliance in the insurance industry

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<title>Strengthening governance, risk and compliance in the insurance industry</title>
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<namePart>Economist Intelligence Unit Limited</namePart>
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<dateIssued encoding="marc">2009</dateIssued>
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<place>
<placeTerm type="text">London</placeTerm>
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<place>
<placeTerm type="text">New York</placeTerm>
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<publisher>Economist Intelligence Unit Limited</publisher>
<dateIssued>cop. 2009</dateIssued>
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<abstract displayLabel="Summary">Insurance companies have long struggled to gain greater efficiency and transparency in their financial processes through automation and process redesign. Their efforts have generally been focused on the negative goals of controlling costs, reducing sudden financial shocks and avoiding regulatory sanctions. However, some companies are discovering that a more integrated approach to managing financial processes can be a source not only of efficiency but also of strategic advantage. Many companies are aiming at achieving that added value through governance, risk and compliance (GRC) initiatives,  which embed rules, processes and controls in keeping with a carriers  operating policies and strategic objectives. These measures provide greater transparency into day-to-day operations, help to identify potential risk exposures, and enable companies to react in a timely fashion to emerging risks. GRC is characterised by effi ciency and accuracy, but can also add the dimension of providing a synoptic picture of risk to support strategic decision-making</abstract>
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<topic>Empresas de seguros</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080585563">
<topic>Gestión financiera</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080615703">
<topic>Transparencia financiera</topic>
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<subject authority="lcshac" xmlns:xlink="http://www.w3.org/1999/xlink" xlink:href="MAPA20080579722">
<topic>Control de costes</topic>
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<topic>Control de gestión</topic>
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<topic>Estrategia empresarial</topic>
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