Sydney Consulting Group selects Wolters Kluwer NILS™ INsource® compliance offering

Florida-based Sydney Consulting Group has selected two offerings within Wolters Kluwer Compliance Solutions’ NILS™ INsource® solutions suite to advance compliance support of its many insurance carrier clients. Along with its adoption of the NILS™ INsource® solution, Sydney Consulting Group has implemented NILS™ State Filing to more effectively track and manage evolving regulatory compliance obligations across state jurisdictions for its clients.

Sydney’s clients include insurance carriers of all sizes, from InsurTech start-ups to Fortune 100 companies. Its health and life insurance consulting practice consists of actuaries and compliance professionals with leading expertise in supplemental health and life products such as Accident, Critical Illness, Cancer, Hospital Indemnity, Term Life, Whole Life, and Universal Life.

“The clients we serve face an ever-changing regulatory environment that requires keeping pace across multiple state and federal jurisdictions,” said Hunter Sexton, JD, MHA, Compliance Consultant, Sydney Consulting Group. “We selected Wolters Kluwer’s solutions based on our familiarity with the system and its impressive capabilities. The single technology platform will empower our team to more effectively manage our clients’ regulatory compliance obligations.”

NILS™ INsource® is a web-based tool for efficient and effective research, allowing insurers to monitor the vast array of regulatory material and readily assess compliance ramifications of evolving insurance obligations. Insurance compliance professionals can obtain focused, accurate content in significantly less time by leveraging the tool’s insurance terminology indexing and compliance topic and subtopic category database, vastly enhancing their compliance efforts.

NILS™ State Filing is also web-based, combining key regulatory details and transmittal forms in an easy-to-use, quickly deployable format. Users can focus on achieving business objectives, rather than on time-consuming research and maintenance monitoring of each relevant jurisdiction for regulatory requirements that may impact their customers.

“Our NILS INsource suite of solutions has long provided insurers a trusted and valued resource to help consistently manage complex and ever-changing compliance and regulatory obligations across the insurance landscape,” said Steven Meirink, Executive Vice President and General Manager, Wolters Kluwer Compliance Solutions. “We are pleased Sydney Consulting Group has added these core tools to its existing insurance compliance capabilities set, providing an ideal platform to improve its compliance program productivity and help reduce non-compliance risks.”

NILS™ INsource® is viewed as a definitive primary content resource for almost 7,000 insurance professionals and departments in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to U.S. banks and credit unions, insurers and securities firms. The business, which sits within Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, helps these financial institutions efficiently manage risk and regulatory compliance obligations, and gain the insights needed to focus on better serving their customers and growing their business.

Wolters Kluwer’s GRC division provides an array of expert solutions to help U.S. financial institutions manage regulatory and risk obligations. Wolters Kluwer Compliance Solutions’ eOriginal suite of purpose-built, digital lending solutions helps lenders digitize their transactions and features electronic signatures, collateral authentication and an electronic vault. Wolters Kluwer Lien Solutions’ iLien Motor Vehicle solution provides for the processing and management of motor vehicle titles and liens, helping solve the most unique and complicated challenges in title perfection. In addition, CT Corporation has launched a Covid-19 resource center to provide businesses and law firms with international, federal and state legislative updates.

Sydney Consulting Group provides actuarial, compliance, FP&A, and strategic consulting to carriers, employers, and producers. Product experience includes, but is not limited to, Accident Indemnity, Accident Medical Expense, Cancer, Critical Illness, Short Term Disability, Hospital Indemnity, Long Term Care, Supplemental Medical Expense (Gap), Medicare Supplement, Short Term Care, Term Life, Universal Life, and Whole Life. Sydney Consulting Group is a client-focused organization built on the carrier and consultant leadership experience of its staff. To learn more about Sydney Consulting Group, visit their website at https://sydneygrp.com/