Type of solution
Thomson Reuters Accelus for insurance GRC, including audit, compliance, operational risk, ORSA and enterprise risk management
Description of solution
Thomson Reuters Accelus helps organisations analyse today's volatile risk and regulatory environment, articulate the challenges they face and take the actions required to manage risk and drive business performance.
From regulatory intelligence to financial crime, board portals to audit, a connected approach to governance, risk and compliance ensures a portfolio view of enterprise risk aligned to both regulatory compliance and value for the business.
Thomson Reuters Accelus facilitates connectivity between the various assurance functions, the front office and the board, and informs and simplifies GRC complexity.
Thomson Reuters Accelus provides multiple deployment options for organisations, including installed, hosted and SaaS.
Range of capabilities (see http://accelus.thomsonreuters.com):
- Accelus Risk Manager
- Accelus Internal Controls Manager
- Accelus Audit Manager
- Accelus Compliance Manager for Insurance
- BoardLink for Insurance
- Disclosure Solutions for Insurers
- Regulatory Intelligence for Insurance
- World-Check
- Country Check
- IntegraScreen for Enhanced Due Diligence
- Accelus for FATCA
Date first developed
1995
Was the solution developed specifically for the insurance industry?
Thomson Reuters Accelus supports a wide variety of industry frameworks, including Basel II, Solvency II, COSO, and ISO 31000. The solution can be easily configured to meet an organisation's individual requirements.
If not, is the solution designed for both banks and re/insurance companies?
The solution works for all types of organisations.
How much is your own technology and how much is adapted or licensed from others?
Accelus is entirely a Thomson Reuters platform.
Does your solution integrate with third-party systems or in-house systems?
Absolutely, it can pull in information from both third-party and in-house systems, as well as export data to analytics programmes if required.
Describe any features specific to insurance and specific to Solvency II
Accelus Risk Manager supports both operational risk for insurance and also the enterprise risk management requirements for ORSA. Accelus Compliance Manager for Insurance enables compliance executives at US-based insurance companies to manage the impact of regulatory change on their organisation, reducing the compliance risk they are exposed to. By using Accelus Compliance Manager for Insurance, compliance executives can track regulatory change, map and assign regulatory events to respective owners, document impact assessments, assign action plans, document and manage associated policies and controls, and provide reports to management and regulators.
Implementation
How long does the solution take to implement?
Implementation programmes are structured around individual client needs, but implementation times are relatively short. For example, a typical Accelus Risk Manager implementation takes about eight weeks.
How much training and support is necessary?
Training and support is provided according to client requirements, including full training and train-the-trainer programs. Thomson Reuters provides global support for its clients.
Cost
Depends on solutions used and project undertaken
Types of user
Types of company/organisation
Any type
Types of users within companies/organisations
GRC as well as business users
Areas/countries with the most users
Thomson Reuters Accelus is used by our clients across the globe.
Contact person(s) and details
Name: Ellen Davis
Tel: +44 207 429 9238
Email: ellen.davis@thomsonreuters.com
Companies:Thomson Reuters