General Insurance Article - OAC launches Cloud based SIMR solution for insurers

 Claire Lightwood, OAC lead consultant for TRAC10, says: “TRAC10 brings together OAC’s expertise in Governance and Risk Management to ensure compliance with the SIMR. We have built a comprehensive solution for insurers to fully record all information about their senior managers within a logical and user friendly interface.”

 Lightwood continues: “The greatest challenge brought by the SIMR is creating, maintaining and reproducing the organisation’s Governance Map. TRAC10 stores all the necessary data to produce an immediate and accurate Governance Map for the current day or any historic date. It also holds all supporting documentation with a date search facility to ensure any regulatory requests for information can be met quickly and easily without the need to extract data from multiple sources. TRAC10 efficiently manages the business processes to ensure compliance and to minimise personal and corporate risk.”