Swiss GRC technology for modern risk and control management at Mobiliar

Find out how the introduction of the GRC Toolbox ensured Mobiliar’s ability to adapt to regulatory changes.

Initial situation

Mobiliar occupies a leading position in the Swiss market and, with a premium volume of over CHF 4.5 billion and more than 2.3 million insured persons, is one of the largest non-life insurers in Switzerland. It is known for its deep roots and strong local connections with its 80 general agencies in Switzerland and Liechtenstein. The digital transformation and changing regulatory requirements also pose new challenges for Mobiliar.

Challenge: Adapting to management and regulatory requirements

Mobiliar had been using a GRC tool to manage its governance, risk and compliance activities for over a decade. The new requirements of management and the supervisory authorities could no longer be fully covered by the existing solution. These included, in particular, the need to be able to efficiently carry out risk and control assessments centrally and decentrally. In addition, increased support for control monitoring was required in order to ensure more efficient and improved risk management. Another point was the need for a user-friendly, flexible and reliable reporting system that would increase the transparency and traceability of the risk and control situation. These extensive requirements made it clear that a modern and future-oriented solution was necessary in order to effectively manage the existing and future challenges. For this reason, the options for introducing a new GRC tool were examined in detail and Swiss GRC was chosen.

Swiss GRC as the key to advanced ICS and risk management

Swiss GRC, known for its high-quality GRC tools, offered what Mobiliar was looking for to effectively address its internal control system (ICS) and risk management challenges. Swiss GRC’s solution stood out in particular for the following:

• Support for a risk & control assessment methodology that enables efficient identification, self-assessment and monitoring of material risks and key controls.
• A user-friendly interface and flexible reporting that simplifies the handling and analysis of risk data and thus contributes to improved decision-making.
• Audit- and regulatory-compliant functionalities that ensure that the company always meets the latest (regulatory) legal requirements.
• Cloud-based operation that ensures high scalability and adaptability to changing business needs.
• Stable performance that guarantees efficient and smooth use of the system.

With the GRC Toolbox, Mobiliar can make its risk and control assessments more efficient and tailor them to current requirements. In addition, the introduction has led to improved control monitoring. Another positive effect is the greater involvement and motivation of employees, which is facilitated by the tool’s user-friendly interfaces. The tool also increases transparency in reporting, allowing decision-makers to access a consistent and uniform database. Last but not least, the GRC Toolbox supports the company’s ability to adapt to future regulatory changes, which promotes sustainable risk management.

Takeaways

• Improved processes: Swiss GRC’s solution enables more efficient risk and control assessments as well as improved control monitoring.
• User-friendliness: The implementation of a user-friendly interface promotes employee involvement and satisfaction.
• Future-proofing: The tool provides a solid foundation for adapting to future regulatory changes and challenges.
• Increased transparency and compliance: The GRC Toolbox not only improves transparency in reporting, but also strengthens compliance and risk management overall.