BWise, the global leader in Governance, Risk and Compliance (GRC) management software, today announced that it will collaborate with Moody's Analytics to offer the BWise Governance Risk and Compliance (GRC) platform in combination with Moody's Analytics' Solvency II Capital Requirement offering.
The collaboration will help insurers seeking a streamlined, comprehensive risk management and governance solution to meet Pillar 2 Own Risk and Solvency Assessment (ORSA) requirements of the forthcoming Solvency II Directive.
This integrated approach offered by Moody's Analytics and BWise will help insurance firms of all sizes take a robust and process-led approach to the management of regulatory compliance and the associated risk exposures within a dedicated and integrated enterprise risk management (ERM) and governance framework. BWise has optimized its Solvency II offering by enabling insurers to more easily embed a company-wide GRC system. This enables them to document, streamline and monitor GRC processes, a key requirement of Solvency II's Pillar 2.
"We are excited about our collaboration with Moody's Analytics and the benefits it will bring to insurers seeking a comprehensive Solvency II solution," said, Robert Pijselman, CEO of BWise. "Our GRC platform is a strong complement to Moody's Analytics' data management and regulatory calculation and QRT reporting platform, offering insurers a robust solution for Solvency II compliance."
"Many insurers are already using Moody's Analytics regulatory calculation and reporting solution and Barrie & Hibbert's scenario generation services for their Solvency II Capital requirements. Through our collaboration with BWise, we can now offer our clients access to one of the leading GRC solutions for comprehensive Solvency II compliance and improved risk governance," said, Christophe Burckbuchler, Senior Director, at Moody's Analytics.