Integrated GRC platform with insurance-specific risk management capabilities including operational risk, audit management, internal control, and regulatory compliance. Features a centralized risk repository, risk assessment workflows, and regulatory reporting for insurance frameworks.
Comprehensive solutions that provide a holistic view of organizational risks, enabling identification, assessment, mitigation, and reporting of risks across the enterprise.
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Automated Risk Detection System automatically scans data to detect emerging risks. |
MEGA GRC automates risk detection via risk assessment workflows and can continuously monitor risk data. | |
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Manual Risk Entry Users can manually input and categorize specific risks. |
The system supports manual risk entry through its centralized risk repository interface. | |
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Risk Taxonomy Customization Allows customization of taxonomy and categories to suit business needs. |
MEGA GRC allows organizations to tailor risk taxonomy and categories based on business needs. | |
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Third-Party Data Integration Integration with external databases or feeds for new risk insight. |
The platform integrates data from external regulatory databases and industry feeds for risk insights. | |
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Risk Prioritization Engine Automatically ranks risks according to defined criteria. |
System features include automated risk prioritization as part of risk assessment workflows. | |
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Scenario Analysis Ability to simulate and assess impact of potential events. |
MEGA GRC supports scenario analysis and 'what if' risk simulations as part of advanced risk management. | |
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Inherent and Residual Risk Scoring Assesses risks before and after mitigation measures. |
Inherent and residual risk scoring is standard in MEGA's risk module per feature documentation. | |
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Real-Time Risk Updates Delivers up-to-the-minute changes in risk profiles. |
Risk data is updated in real-time as per workflow triggers and data feeds in the system. | |
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Qualitative & Quantitative Assessment Supports both narrative assessment and numerical scoring. |
MEGA GRC supports both qualitative narrative input and quantitative scoring for risk assessments. | |
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Risk Appetite Alignment Links risk scoring and recommendations to organizational risk appetite statements. |
Risk scoring and prioritization can be aligned to customizable risk appetite statements. | |
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Number of Supported Risk Types How many distinct risk types the system can handle. |
No information available | |
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Time to Identify New Risk System’s average time to identify a new risk from data ingestion. |
No information available |
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Control Library Central repository for mitigation controls and actions. |
Central repository for internal controls is a core platform feature. | |
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Mitigation Assignment Assign responsibility for specific mitigation actions. |
Mitigation assignment is available as part of the internal control and action management modules. | |
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Mitigation Effectiveness Tracking Monitor and assess the effectiveness of controls. |
The system tracks mitigation progress and effectiveness of controls over time. | |
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Action Management & Workflow Automates workflows for follow-up and completion of tasks. |
Action management and workflow engine automatically manages follow-up tasks. | |
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Automated Control Testing Schedules and conducts control tests on defined intervals. |
No information available | |
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Remediation Plan Management Support for managing, tracking, and reporting on remediation plans. |
Remediation planning and tracking are available features according to product overviews. | |
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Control Owner Assignment Assigns named individuals or teams to each control. |
Control owners (individuals/teams) can be assigned for every control/activity. | |
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Policy & Procedure Linkage Links mitigation controls to relevant internal policies. |
Mitigation controls can be linked to internal policies and procedures. | |
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Control Frequency Setting Supports scheduling of control activities and tests. |
Users can configure control frequency and schedule tests per control. | |
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Mitigation Completion Time Average required time for closure of mitigation actions. |
No information available |
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Customizable Dashboards Users can design personalized dashboards and widgets. |
Customizable dashboards and widgets are described among reporting features. | |
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Regulatory Reporting Templates Standard templates for regulatory bodies (e.g., Solvency II, NAIC, IFRS 17). |
Platform provides regulatory report templates for Solvency II and other insurance frameworks. | |
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Data Visualization Tools Interactive charts, graphs, and heatmaps for risk data. |
Product offers interactive data visualization including charts, graphs, and heatmaps. | |
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Scheduled Automated Reports Create and distribute periodic risk reports automatically. |
Scheduled and automated reports are supported (e.g., periodic distribution). | |
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Report Export Formats Number of supported formats: PDF, Excel, CSV, etc. |
No information available | |
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Drill-Down Analysis Click through from summary to detail in analytics dashboards. |
Drill-down analytics from dashboards to data detail are supported. | |
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Peer Benchmarking Compare risk exposure/performance against industry peers. |
No information available | |
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Risk Heatmaps Visual mapping of risk severity, frequency, and exposure. |
Risk heatmaps are offered among standard visualizations. | |
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Real-Time Data Refresh How frequently dashboard data updates. |
undefined Dashboards refresh data in near real-time based on the underlying data model. |
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API Support Open APIs for integration with other enterprise systems. |
Open API is provided to integrate with external enterprise systems. | |
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Data Import/Export Ability to import and export data from/to multiple formats or systems. |
The product can import/export data in standard formats (Excel, CSV, XML, etc). | |
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Core Insurance Platform Integration Direct connectors with policy admin, claims, underwriting, and actuarial systems. |
Platform integrates with core insurance systems (policy admin, claims, etc) per website and datasheets. | |
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Data Lake Compatibility Ability to integrate with enterprise data lakes and warehouses. |
Data lake and warehouse compatibility is described for enterprise deployments. | |
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Single Sign-On (SSO) Integration with enterprise authentication systems. |
Single sign-on (SSO) is supported via integration with enterprise IAM systems. | |
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Third-Party Risk Data Integration Supports ingestion of external risk analytics or threat intelligence. |
External risk data, analytics, and feeds can be ingested into the platform. | |
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Webhooks Trigger external events based on platform actions. |
No information available | |
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Number of Supported Connectors Quantity of pre-built integrations with third-party products. |
No information available |
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Regulatory Framework Mapping Map risks/controls to standards (Solvency II, SOX, GDPR, etc.). |
Risks and controls can be mapped to a broad array of regulatory frameworks (e.g., SOX, Solvency II, GDPR). | |
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Issue & Incident Management Track, escalate, and resolve compliance and risk issues. |
Issue and incident management is a core part of the audit and compliance suite. | |
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Attestation Management Collect and store formal sign-offs on compliance activities. |
Attestation for compliance activities is supported within the audit module. | |
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Policy Management Integration Link controls to digital policy management system. |
Policy management integrates with control tracking as part of GRC features. | |
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Automated Regulatory Updates Receive and integrate updates to changing regulations. |
Platform offers regulatory monitoring and automated regulatory content updates. | |
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Compliance Calendar Central calendar for all compliance-related tasks and deadlines. |
A compliance calendar for scheduling and tracking obligations is included. | |
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Audit Trail Immutable logs of all risk/compliance changes and actions. |
System includes immutable audit trails for risk and compliance records. | |
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Compliance Dashboard Real-time visualizations of compliance status across risk categories. |
Compliance status and gaps are displayed via dashboards. |
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Role-based Access Control (RBAC) Granular permissions based on user roles. |
Supports granular permissions based on user roles (RBAC). | |
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Multi-Factor Authentication (MFA) Adds an extra layer of user authentication. |
Multi-factor authentication (MFA) is available as an advanced security measure. | |
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User Provisioning & De-provisioning Automated on-boarding and deactivation of user accounts. |
Automated provisioning and deprovisioning supported by integration with user directories. | |
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Delegated Administration Assigns admin rights for specific modules or data sets. |
Delegated admin for modules/data sets is supported. | |
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Audit Logging Tracks and logs all user access and data changes. |
Audit logging is part of system traceability and compliance support. | |
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User Profile Customization Ability for users to customize their workspace and alerts. |
User profile and notification preferences are customizable. | |
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Number of User Roles Supported How many distinct user roles can be configured. |
No information available | |
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Concurrent User Limit Maximum number of users able to log in simultaneously. |
No information available |
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Horizontal Scalability Architecture can add servers/nodes to handle increased loads. |
System is built for horizontal scalability per enterprise cloud documentation. | |
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Transaction Processing Speed Time to process a standard risk event or transaction. |
No information available | |
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Maximum Supported Records Largest volume of risk/control records the system supports. |
No information available | |
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Data Ingestion Rate Volume of risk or event data ingested per unit time. |
No information available | |
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Concurrent User Performance Number of concurrent users without notable slow-down. |
No information available | |
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High Availability (HA) Support System includes redundancy and failover for uptime targets. |
High availability (redundancy, failover) is available as standard for SaaS/cloud deployment. | |
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Disaster Recovery Options Automated tools for backup and business continuity. |
Disaster recovery and business continuity options are part of the enterprise proposition. |
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Custom Workflow Builder Graphical tools to design and modify business workflows. |
Workflow builder lets users graphically design business processes. | |
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Field/Screen Customization Add, remove, or edit data fields and screen layouts. |
Field, form, and screen layouts are customizable. | |
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Rule Engine Create business logic to automate processes under specified conditions. |
Rule engine enables logic-driven workflow and business process automation. | |
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Custom Risk Scoring Formulae Design and implement unique risk scoring models. |
Risk scoring formulas can be customized by users/admins. | |
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Localization (Language/Region Support) Support for multiple languages, currencies, and date formats. |
Platform supports localization (multiple languages and regions). | |
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Branding Support Ability to add company logos, brand colors, and white labeling. |
Branding and white labeling are supported for enterprise clients. | |
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Custom Alert Rules Tailor when and how system sends notifications or escalations. |
Custom alert rules and escalations can be configured for notifications. | |
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API Extension Points Ability to extend data model and business process through APIs. |
API extension points allow custom integrations and business logic. |
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Comprehensive Audit Trail Complete logging of all changes to risk records and configurations. |
Comprehensive audit trail is foundational to system design. | |
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Version Control Ability to roll back to previous states of data, methodologies, or configurations. |
Version control is supported for data and configuration states. | |
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User Activity Monitoring Monitor and review individual user actions for compliance. |
User activity monitoring is available for compliance and forensic analysis. | |
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Change Approval Workflow Enforces approval of critical changes before implementation. |
Critical changes can require approvals before implementation. | |
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Integrated Document Management Store, version, and audit supporting documents within the platform. |
Document management (versioning, audit) is included in the platform. | |
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Time-stamped Logs Logs include accurate date/time stamps for forensic analysis. |
All logs include precise time-stamps for traceability. |
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Data Encryption at Rest and in Transit Sensitive data is always encrypted both during storage and transmission. |
Data is encrypted at rest and in transit as per enterprise security standards. | |
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Granular Access Permissions Fine-grained control over specific data, modules, and features. |
Granular access permissions are available to control user access at detailed levels. | |
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Data Masking Masking of sensitive fields in UIs, reports, and exports. |
Data masking is available for sensitive fields in reports and UIs. | |
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Anomaly Detection Automated detection of suspicious access or usage patterns. |
Anomaly detection is part of the security suite for suspicious access monitoring. | |
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Penetration Testing Certification Third-party validation of platform security posture. |
Penetration testing and third-party certifications are available, with references to ISO 27001 etc. | |
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Security Incident Alerts Real-time notification of detected security events. |
Security event alerts notify admins in real time. | |
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Data Retention Policies Ability to configure and enforce retention periods for sensitive data. |
Data retention policies can be configured and enforced by admins. | |
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Audit Compliance (e.g., SOC2, ISO 27001) Certified compliance with recognized security standards. |
Platform supports SOC2 and/or ISO 27001, according to security and compliance literature. |
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Team Task Assignment Assign specific tasks to teams or individuals in platform. |
Tasks can be assigned to teams and individuals within the platform. | |
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Internal Messaging Communicate, comment, and share insights within the platform. |
Internal messaging and annotation/sharing available within GRC modules. | |
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Document Collaboration Co-author, review, and track document changes. |
Collaborative document review, authoring, and tracking are available. | |
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Notifications & Alerts Send out time- or event-based notifications to stakeholders. |
System sends event/time-based notifications and escalations. | |
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Feedback & Survey Tools Embedded features for soliciting and aggregating user input. |
Feedback and survey tools are available for collecting input from users. | |
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Meeting Scheduling Integration Tools to coordinate risk meetings or reviews. |
Calendar and meeting integration is supported for coordination. | |
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Number of Supported Collaboration Users How many users can simultaneously work together on a risk or task. |
No information available | |
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Integrated File Sharing Directly share reports, evidence, and documents with stakeholders. |
Files (reports, evidence, documents) can be shared directly with platform stakeholders. |
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