The year 2022 has been really transformative for me in so many ways. Happy 2023! In 2022 I realised that the meaning of these wishes can be so different for each of us. #compliance #regtech #claimstech #claims #insurtech #culture #people #training #asic We have built Curium compliance suite to support companies in creating proactive culture of incidents reporting, immediate assessment and escalation. Encourage there culture of reporting and assess incidents in real time. Use simple questionnaires or templates to report an incident.ģ. Make it very easy for employees to report an incident of non-compliance. Use examples of what a “breach” is to make it easier for them to spot non-compliance.Ģ. Never forget your front line employees - invest in sufficient training. See the original article in comments.įor over a year we have been working with multiple companies to support their compliance and learned a few lessons of “do’s and don’ts when implementing the new regime”:ġ. Going forward ASIC is expecting licensees to strengthen their compliance frameworks and implementation. People and errors are the most frequent root causes for breaches identified by ASIC. Complete remediation programs and compensate customers too late Take too long to identify reportable breaches According to the first ASIC report on the implementation of the reportable situations regime, the companies:
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