Compliance Support for Insurance Agencies in Boston
Insurance agencies fulfill a range of requirements for their clients, but lately, they’re going above and beyond. Many insurance agencies have started offering similar services as financial institutions, such as underwriting interest rate and debt swaps, adding collateral-based mortgage obligations to investment portfolios, and more.
As insurance agencies continue to expand their role, they’re facing an evolving number of regulations.
Even those who aren’t offering similar services as financial institutions are still facing a number of complex compliance challenges. It’s not easy staying ahead of various regulatory bodies. In fact, many insurance agencies struggle to execute day-to-day activities due to spending a lot of time mitigating risks.
Boston insurance agencies need support when it comes to their compliance efforts. We can help. Call (978) 528-0110 or email us at info@radiusits.com.
A study found that 1 in 3 insurance agencies believe they spend an ENTIRE day each week keeping track of regulations, including:
- NAIC
- FINRA
- SEC
- The Federal Reserve
Regardless of the type of insurance you’re providing, one thing remains true: compliance issues will arise at one point or another as long as you’re not staying ahead of various regulatory bodies.
Radius Executive IT Solutions is here to help insurance agencies meet their obligations in terms of compliance. We’ve worked with many firms throughout all of Massachusetts and New England. The insurance agencies we serve come to us because they feel the increasing pressure of regulatory mandates.
They know emerging risks and regulations are challenging their ability to better meet the requirements of their clients. Plus, they know they need strategic technology guidance because:
- Technology is revolutionizing the business model to deliver new opportunities and new risks.
- Customers are wanting innovative products and/or services that save them time and effort.
- Hackers are becoming more sophisticated in terms of the way they’re able to break into the network.
Why do insurance agencies choose us as their strategic technology partner?
They choose us because of our experience and expertise, but more than that, because they can depend on us to:
- Be proactive with the ongoing process of compliance – meaning we test and monitor around-the-clock to ensure the network and all data is safe against any type of threats.
- Create a risk management strategy that aligns with their overall business strategy – taking into account the business functions necessary to drive value and automating those functions when possible.
- Offer support, whether it’s remote or onsite, whenever something goes wrong and they need a hand to ensure they’re not struggling with downtime that prevents productivity.
Boston insurance agencies trust our team to support their compliance efforts. Call (978) 528-0110 or email us at info@radiusits.com to learn more.
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