Compliance to power performance

As demands on the compliance function continue to increase in an era of enhanced regulatory scrutiny, data from the 2016 Deloitte Insurance Ethics and Compliance Survey demonstrate a correlation between financial performance metrics and the maturity levels of insurance and ethics programs.

The challenge for both compliance personnel and other members of the C-suite may be how to successfully transform the function to address the increasing requirements and differing skill sets needed to not just react to, but to anticipate changes in the business, consumer, and political environments and enable insurers to minimize the reputational and operational risks that can follow compliance failures and position the company for sustainable growth.

Fortunately, there are signifiers of a high maturity compliance function that provide guideposts for companies seeking to move their compliance functions from “good” to “great”, and the data provide evidence that, for these companies, both quantitative and qualitative rewards may await.

Learn more about how compliance can power performance by reading our full report.

Author:

George Hanley
Managing Director| Deloitte Advisory
Deloitte & Touche LLP

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