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Brooklyn Vendor Assurance Announce EIOPA Outsourcing Module Release

Nick Francis 9 months ago

Brooklyn Vendor Assurance Announce EIOPA Outsourcing Module Release

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

London, United Kingdom: Brooklyn Vendor Assurance is pleased to announce the release of the BVA 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 organized, 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 1st January 2021.

“BVA has been designed with the single aim of delivering ultimate flexibility related to governance and policy creation. So much so that it can very quickly be configured to align and drive compliance for any existing or new regulation as it relates to vendor management.,” says Nick Francis, Chief Product Officer, and Co-Founder at Brooklyn Vendor Assurance. ”In our latest release, the platform comes pre-configured to fully support the EIPOA guidelines and ensure your organisation remains compliant. I am really pleased that this is a big leap forward, an industry first and must-have for Insurance and Pensions providers across Europe.”

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.

The EIOPA Outsourcing Module will be available starting the 2nd January 2020, and for more information on the pricing for this module, please contact our sales team at info@brooklynva.com.

Visit our EIOPA Outsourcing page for more information.

What We Do

Brooklyn Vendor Assurance is the first Enterprise SaaS software platform purpose-built for vendor managers to maximise business value across their 3rd Party Supplier ecosystem, by assuring contractual compliance, as well as consistency amongst compliance through tailored governance and risk management technologies. In 2020, our solutions won placement in the Digital Top 50 (per Google, McKinsey & Co., Freshfields, others) and became CIO Magazine 2020 Vendor Management Platform of the Year.

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