Per the activation of compliance towards new Cloud Outsourcing EIOPA Guidelines, Brooklyn has now announced a modular release for the insurance industry covering compliance against outsourced critical or important operating functions.

London, United Kingdom: Brooklyn Solutions is pleased to announce the release of the Brooklyn EIOPA Outsourcing Module, a new Contract Management service and SaaS solution which is designed to ensure cloud outsourcing arrangements, deemed to be providing critical or important functions and services to the client, are compliant against guidelines distributed by the European Insurance and Occupational Pensions Authority (EIOPA).

The products and services offer solutions for the needs of Insurers and Re-insurers to confidently show organised, automated and substantial means of contractual compliance across the required outsourcing arrangements, in alignment with the EIOPA Guidelines on outsourcing to cloud service providers which are active for application from the 1^st January 2021.

Features and benefits of the EIOPA Outsourcing Module include:

• Automated Onboarding and Evaluation of Contracts against a Contract Compliance Engine tailored to the EIOPA Guideline requirements for critical/important cloud activities and functions.
• Obligation Management and Tracking through automated alerts and governance, to assure compliance across the contract lifecycle.
• Sound governance capabilities, including action tracking and smart risk management solutions to mitigate front-line risks inherited by critically acclaimed outsourcing arrangements.