[For more on insurers' compliance efforts, see Proactive Regulatory Compliance Creates a Competitive Advantage for Insurance Companies.]
NILS INsource is described by Wolters Kluwer as an insurance regulatory content solution, used by more than 10,000 insurance professionals for statutory and regulatory analysis in all 50 states, the U.S. federal government, the District of Columbia, the Virgin Islands and Puerto Rico. The solution integrates with NILS INcompass, a workflow tool aimed at helping compliance and legal professionals monitor and implement ongoing regulatory changes within their insurance organizations. It also helps insurers keep track of their progress in applying new industry laws and regulations, according to Wolters Kluwer.
“We take regulatory compliance seriously and are continually looking for ways to improve our processes. These solutions help our compliance team simplify regulatory research, while ensuring relevant regulatory changes are being implemented throughout the company,” comments Sally Narey, chief legal officer, Fireman’s Fund. “Additionally, the process NILS INcompass guides us through is consistent with Lean Six Sigma concepts, which was a key factor in choosing a solution for our organization.”