The Connection Magazine AIM MUTUAL Fall 2019 | Page 6

MATTERS OF COMPLIANCE
Putting
Compliance in
the Spotlight
BY ROBIN D’ERI
AND JODI WILLIAMS
WANT TO make a room full of insurance
professionals shudder? Whisper the word
compliance. It makes them feel like the
doomed character in a horror movie: the
doors and windows are all locked, but the
poor soul forgot about the basement and
trouble is about to come crashing in.
A team of employees at A.I.M.
Mutual was tasked with reviewing the
compliance process as part of a larger
group called P.R.I.M.E. (Performance-
R e s u l t s - I n n o v a t i o n - M a n a g e m e n t-
Excellence). Wendy Rosati, Michael
Stango,
Chris
Moncada,
Colleen
Welch, and Robin D’Eri explored how
the company handles compliance
on an individual, department, and
corporate level and then provided
recommendations to senior leadership.
“From an IT perspective, I think it was
important to review our current systems
and identify what areas need the most
attention in terms of compliance,”
said Michael Stango, IT Manager.
“What processes and procedures
were quantifiable in terms of being in
compliance, and where does the data
reside?”
Defining the Process
Wendy Rosati, Injury Prevention &
Worksite Wellness Supervisor, spoke
about implementation: “Audits by
department help identify areas to
improve processes, provide formal rules,
and fully define employee responsibilities
and training opportunities.”
To start, the group conducted surveys
by department and examined industry
compliance
forums.
They
quickly
concluded that the best way to flag
any duplication of effort was to get a
standardized system in place. What’s
more, it was going to be a full-time job.
The volume of statutory and bureau
information alone was staggering; it
applied to different process areas at
6
different times in a policy’s lifespan.
Ultimately, the recommendation to
senior leadership was to create a new role
within the company’s finance department.
They agreed.
Compliance as a Spectrum
Compliance is not black-or-white, right-
or-wrong as some might think. Instead,
compliance should be thought of as a
spectrum where individual efforts happen
alongside collaborative ones. Combined,
there is significant forward progress,
boosting the level of compliance.
As a result of the work by our P.R.I.M.E.
group and the framework established by a
third-party consultant firm, we identified
specific areas in which to centralize our
efforts. The firm helped evaluate current
compliance efforts. Areas of focus
included contract management, state
filings, complaint handling, and marketing
materials. As a company, we have done
good work in each of these respective