Ethos strengthens insurance compliance by selecting Wolters Kluwer solution
Life insurance provider selects NILS™ INsource®, NILS™ MCE to foster enhanced compliance capabilities
San Francisco-based Ethos, a modern life insurance provider, continues to bolster its leading-edge compliance program through the use of Wolters Kluwer Compliance Solutions offerings. To strengthen its regulatory compliance and market conduct examination capabilities, Ethos has selected NILS™ INsource®. It has also implemented NILS™ MCE for Life and Health to augment its market conduct examination program efforts.
“Traditionally, the market conduct examination process had been a complex, time-consuming activity that expended considerable team resources, says Peter Colis, CEO and Co-founder at Ethos. “The NILS solutions are helping re-write that process, expediting the research and analysis of completed market conduct examination reports as well as facilitating our ability to prepare for and respond to market conduct examination results. Our compliance program efforts are markedly enhanced through the combination of these two offerings supporting our team.”
NILS INsource is a web-based tool for efficient and effective research, allowing insurers to monitor the vast array of regulatory content and to readily assess compliance ramifications of evolving insurance obligations. Insurance compliance professionals can obtain focused, accurate content in significantly less time by leveraging the tool’s uniquely indexed insurance content, thus providing greater accuracy and more relevant search results, and vastly enhancing their compliance efforts.
The web-based NILS MCE for Life and Health solution delivers an easy-to-use market conduct research tool, helping insurance companies research prior market conduct exam reports and enforcement orders, prepare and respond to current examinations, and maintain compliance with market conduct requirements.
“The NILS INsource suite of solutions gives insurers a solid foundation upon which to manage the breadth and complexity of ever-changing regulatory compliance obligations they face,” said Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “We are excited to provide Ethos with these enhanced capabilities to augment their ongoing market conduct exam and compliance initiatives.”
NILS™ INsource® is viewed as a definitive primary content resource for nearly 7,000 insurance professionals and departments in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.
Wolters Kluwer’s GRC division provides an array of expert solutions to help U.S. financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ OneSumX® for Regulatory Change Management helps insurers and other financial institutions effectively manage the enormous breadth, scope and volume of ever-evolving legislative and regulatory changes, providing structured, actionable content to help ensure compliance. Wolters Kluwer Lien Solutions’ iLien for Lien Management solution enables lenders to manage and address risks in their entire UCC lien portfolio with analytics, visibility and automation. In addition, CT Corporation’s Covid-19 resource center provides businesses and law firms with pandemic-related international, federal and state legislative updates.About Wolters Kluwer Governance, Risk & Compliance
Governance, Risk & Compliance is a division of Wolters Kluwer, which provides legal and banking professionals with solutions to help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency, and produce better business outcomes. GRC offers a portfolio of technology-enabled expert services and solutions focused on legal entity compliance, legal operations management, banking product compliance, and banking regulatory compliance.
Wolters Kluwer (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2020 annual revenues of €4.6 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.About Ethos
Ethos is a new kind of life insurance provider making getting coverage easy and accessible for millions of families. Ethos uses predictive analytics and sophisticated data technology to eliminate traditional barriers to life insurance and bring the industry into the modern age. The company built its technology from the ground up with a focus on creating a seamless customer experience; a mobile-first, online application process that takes minutes instead of weeks, and offering coverage without a medical exam for most applicants. The result is a life insurance company that puts people first. The company has offices in San Francisco, Austin, and Singapore. To learn more, visit www.ethoslife.com.