Automate insurance governance, risk, and compliance — IRDAI monitoring, solvency reporting, claims governance, and AI-powered risk quantification in one platform.
Insurers face complex regulatory demands across governance, solvency, distribution, and data protection.
Insurance companies must comply with IRDAI guidelines, Solvency requirements, AML/CFT regulations, data protection laws, and product-specific mandates — creating a dense web of overlapping obligations.
Managing underwriting risk, claims fraud exposure, and reserving adequacy requires sophisticated risk quantification models and continuous monitoring of risk indicators across the portfolio.
Regulators require frequent filings — solvency reports, actuarial valuations, investment reports, and claims statistics. Manual preparation is slow, error-prone, and resource-intensive.
Insurance distribution spans agents, brokers, bancassurance partners, and digital channels. Governing conduct, compensation compliance, and product suitability across all channels is a major challenge.
Purpose-built governance, risk, and compliance automation for the insurance industry.
Map insurance regulations to internal controls automatically. GRC Sphere monitors IRDAI guidelines, solvency requirements, and data protection obligations with real-time compliance scoring.
Quantify underwriting, operational, and strategic risks using AI-powered models. Generate risk heat maps, monitor Key Risk Indicators, and produce board-level risk reports.
Generate regulatory reports for IRDAI and other supervisory authorities automatically. Pre-built templates for solvency returns, investment reports, and claims statistics.
Monitor claims governance processes with automated compliance checks. AI analytics identify fraud patterns, outlier claims, and governance failures in claims processing workflows.
Centralize insurance compliance policies with version control, approval workflows, and attestation tracking. Ensure product, distribution, and operational policies are current and enforced.
Real-time governance, risk, and compliance dashboards for insurance leadership. Board-ready reports with risk trends, regulatory status, audit findings, and solvency metrics.
Insurance Regulatory and Development Authority compliance for governance, products, and operations.
Solvency capital requirements, risk management, and reporting for insurance undertakings.
Anti-Money Laundering and Counter-Financing of Terrorism compliance for insurance transactions.
Information security management for insurance infrastructure and policyholder data.
Data protection governance for policyholder personal and sensitive data.
Insurance contract accounting standards compliance and reporting automation.
See how GRC Sphere streamlines IRDAI compliance, solvency reporting, and risk management for your insurance company.