Health Insurance Solution

Health insurance companies are striving for higher corporate accountability and governance in the face of stricter regulatory requirements and rising stakeholder expectations. There are a number of insurance regulatory compliance mandates from national and regional supervisory authorities such as HIPAA, NAIC, PCI-DSS, NIST, FFIEC and SOX . There are also reforms like the proposed National Health Insurance Exchange that health insurance companies need to comply with. These regulatory norms are compelling companies to streamline and synergize processes related to policy and procedure management, insurance compliance management, insurance risk management, internal audits, quality of services and operations, issue tracking, corrective action plans, and regulatory reporting.

MetricStream GRC Solution for Health Insurance

Through MetricStream’s solution, health insurers will be able to implement a unified and adaptable system to achieve their compliance objectives . This solution enables a clear and unambiguous approach to GRC processes through automated workflows and centralized information management. , Health insurance companies will be able to fulfill insurance regulatory compliance requirements and implement effective risk strategies by documenting, tracking, and managing GRC initiatives at all organizational levels for business functions as well as IT processes.