Compliance products offer secure access, streamlined operation
As regulation in the insurance industry continues to grow, insurers increasingly are finding themselves facing what seems like an overwhelming task in trying to bring their processes and operations into compliance with a plethora of requirements.
HIPAA, GLB, Sarbanes-Oxley and a group of other regulations that aim to make consumer information more private and secure also make the job of a company’s compliance that much harder. In response, the technology community is developing software that can help make data gathering, storage and retrieval more reliable and secure, and can make the reporting process easier.
o Mobius Management Systems has announced a new version (2.2) of its ViewDirect Total Control Integrator (TCI), Web-services-based software “for cross-repository, cross-platform access to content in any format from any source.”
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According to Rye, New York-based Mobius, the software is especially useful to insurance companies, most of whom have data stored in multiple repositories, having been created from different sources–scanned images, documents created within the company, and documents created by outside parties such as doctors and law enforcement officials.
ViewDirect TCI allows carriers to trace documents and data related to each customer by conducting a single search query through one Web interface, similar to a Google search, says the company. It provides a software layer that enables access to multiple, disparate sources and that streamlines customer service response and access to records for regulatory compliance.
“The ability to consolidate content across multiple, disparate sources is a top priority for organizations struggling to control costs and streamline operations in an environment roiled by regulatory requirements that govern the storage, retention and access to corporate information,” states David Winkler, vice president of product marketing at Mobius.
“Content integration streamlines operations and reduces costs in many functional areas of the organization by providing a complete picture of a customer, a product or a transaction through the consolidation of information in disparate systems,” the company notes.
“ViewDirect TCI is comprised of enabling software that meets all enterprise content, including e-mail records management; Web site, digital asset and document management; workflow and imaging; Internet; enterprise report distribution; and a compliance module that ensures the accuracy of enterprise information,” says Mobius.
The base price for the product is $80,000, plus $20,000 per adapter, says a company spokesperson. Each adapter allows TCI to “speak with” a separate repository, such as FileNet, IBM OnDemand, Microsoft SharePoint, etc. Further details are available at www.mobius.com.
o Orchestria also has announced a new version of its compliance software, Orchestria 4.0, which delivers new functionality in existing product areas, including the pre-built policy library, policy infraction detection capabilities, breadth of channels monitored, flexibility of workflow and scalability.
The updated policy library now contains policies in key areas including regulatory compliance, intellectual property protection, employee behavior standards, consumer best practices and financial controls, says New York-based Orchestria. The new version also offers enhancements in policy accuracy via reductions in “false positives”–falsely identifying a communication as non-compliant.
According to the company, the new product includes productivity enhancements designed to “radically increase the effectiveness and efficiency of the e-mail review process.” The result, says Orchestria, is “a process which truly reduces the amount of non-compliant communication.”