Axco introduces Insight Risk Manager to PARIMA members

Axco Insurance Information Services (Axco) has partnered with the Pan-Asia Risk and Insurance Management Association (PARIMA) to introduce its regulatory requirement database Insight Risk Manager to PARIMA members.

The database was launched in June 2014 to help risk managers confirm whether their insurance programmes are compliant globally.

Insight Risk Manager provides intelligence on local compliance and regulatory insurance requirements, policy conditions and premium payment terms for 100 territories worldwide. It is intended to provide consistent, up-to-date information, as well as to assist insurance buyers in conducting relevant, informed discussions with their brokers.

The database was originally developed in conjunction with the Association of Insurance and Risk Managers in Industry and Commerce (AIRMIC) and it has also been successfully rolled out to the Risk & Insurance Management Society (RIMS) and FERMA members. It will now be available as a complimentary benefit of PARIMA membership.

“The aim of Insight Risk Manager is to improve communication between the insurance industry and buyers of insurance,” said Tim Yeates, managing director at Axco.

“Since its launch last year, the new service has been well received by both. Regulation is increasingly cited as one of the top concerns amongst industry professionals so we are pleased to be able to bring the benefits of Insight Risk Managers to PARIMA members.”

Kelvin Wu, board member, PARIMA added: “I’ve no doubt Insight Risk Manager will prove to be an invaluable tool for PARIMA members. As the international regulations governing global insurance programmes become increasingly complex, a service such as this will help to deliver our members with the confidence that they are fulfilling any local regulatory obligations, as well as keeping them abreast of any changes in regulation or legislation.”