Ci3, the leading developer of Governance Risk and Compliance (GRC) management solutions for the global financial services sector, has announced significant gains in SWORDâs insurance market share during the first half of 2008. SWORD now provides Enterprise Risk Management (ERM) support to companies that make up over 15% of the premiums in the UK insurance market, and includes SwissRe, Zurich, Pearl and Irish Life and Permanent among its client list.
SWORD is now among the leading providers of ERM to the insurance sector - its insurance risk management solution was developed in consultation with blue chip clients from the global insurance sector. Among many sector-specific features are an insurance management risk register, insurance-specific fields and reports, links to the Association of British Insuranceâs ORIC database of operational risk, and an active insurance user group.
âSWORDâs gain within the insurance sector is a consequence of our proven track record with insurers and also, in preparation for Solvency II, of the increased focus by insurers on maximising risk management and compliance effectiveness without overly impacting the business frontlineâ, says Richard Pike, SWORD product director at Ci3.