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MEGA GRC Solutions from MEGA International
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.
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Enterprise Risk Management Platforms for Risk Management
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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Risk Identification & Assessment
(0 Yes /0 Known /12 Possible features)
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Automated Risk Detection System automatically scans data to detect emerging risks. |
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Manual Risk Entry Users can manually input and categorize specific risks. |
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Risk Taxonomy Customization Allows customization of taxonomy and categories to suit business needs. |
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Third-Party Data Integration Integration with external databases or feeds for new risk insight. |
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Risk Prioritization Engine Automatically ranks risks according to defined criteria. |
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Scenario Analysis Ability to simulate and assess impact of potential events. |
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Inherent and Residual Risk Scoring Assesses risks before and after mitigation measures. |
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Real-Time Risk Updates Delivers up-to-the-minute changes in risk profiles. |
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Qualitative & Quantitative Assessment Supports both narrative assessment and numerical scoring. |
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Risk Appetite Alignment Links risk scoring and recommendations to organizational risk appetite statements. |
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Number of Supported Risk Types How many distinct risk types the system can handle. |
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Time to Identify New Risk System’s average time to identify a new risk from data ingestion. |
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Risk Mitigation & Control Management
(0 Yes /0 Known /10 Possible features)
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Control Library Central repository for mitigation controls and actions. |
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Mitigation Assignment Assign responsibility for specific mitigation actions. |
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Mitigation Effectiveness Tracking Monitor and assess the effectiveness of controls. |
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Action Management & Workflow Automates workflows for follow-up and completion of tasks. |
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Automated Control Testing Schedules and conducts control tests on defined intervals. |
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Remediation Plan Management Support for managing, tracking, and reporting on remediation plans. |
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Control Owner Assignment Assigns named individuals or teams to each control. |
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Policy & Procedure Linkage Links mitigation controls to relevant internal policies. |
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Control Frequency Setting Supports scheduling of control activities and tests. |
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Mitigation Completion Time Average required time for closure of mitigation actions. |
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Risk Reporting & Analytics
(0 Yes /0 Known /9 Possible features)
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Customizable Dashboards Users can design personalized dashboards and widgets. |
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Regulatory Reporting Templates Standard templates for regulatory bodies (e.g., Solvency II, NAIC, IFRS 17). |
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Data Visualization Tools Interactive charts, graphs, and heatmaps for risk data. |
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Scheduled Automated Reports Create and distribute periodic risk reports automatically. |
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Report Export Formats Number of supported formats: PDF, Excel, CSV, etc. |
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Drill-Down Analysis Click through from summary to detail in analytics dashboards. |
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Peer Benchmarking Compare risk exposure/performance against industry peers. |
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Risk Heatmaps Visual mapping of risk severity, frequency, and exposure. |
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Real-Time Data Refresh How frequently dashboard data updates. |
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Integration Capabilities
(0 Yes /0 Known /8 Possible features)
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API Support Open APIs for integration with other enterprise systems. |
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Data Import/Export Ability to import and export data from/to multiple formats or systems. |
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Core Insurance Platform Integration Direct connectors with policy admin, claims, underwriting, and actuarial systems. |
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Data Lake Compatibility Ability to integrate with enterprise data lakes and warehouses. |
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Single Sign-On (SSO) Integration with enterprise authentication systems. |
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Third-Party Risk Data Integration Supports ingestion of external risk analytics or threat intelligence. |
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Webhooks Trigger external events based on platform actions. |
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Number of Supported Connectors Quantity of pre-built integrations with third-party products. |
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Governance, Risk, and Compliance (GRC) Features
(0 Yes /0 Known /8 Possible features)
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Regulatory Framework Mapping Map risks/controls to standards (Solvency II, SOX, GDPR, etc.). |
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Issue & Incident Management Track, escalate, and resolve compliance and risk issues. |
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Attestation Management Collect and store formal sign-offs on compliance activities. |
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Policy Management Integration Link controls to digital policy management system. |
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Automated Regulatory Updates Receive and integrate updates to changing regulations. |
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Compliance Calendar Central calendar for all compliance-related tasks and deadlines. |
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Audit Trail Immutable logs of all risk/compliance changes and actions. |
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Compliance Dashboard Real-time visualizations of compliance status across risk categories. |
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User Management & Access Control
(0 Yes /0 Known /8 Possible features)
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Role-based Access Control (RBAC) Granular permissions based on user roles. |
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Multi-Factor Authentication (MFA) Adds an extra layer of user authentication. |
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User Provisioning & De-provisioning Automated on-boarding and deactivation of user accounts. |
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Delegated Administration Assigns admin rights for specific modules or data sets. |
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Audit Logging Tracks and logs all user access and data changes. |
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User Profile Customization Ability for users to customize their workspace and alerts. |
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Number of User Roles Supported How many distinct user roles can be configured. |
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Concurrent User Limit Maximum number of users able to log in simultaneously. |
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Scalability & Performance
(0 Yes /0 Known /7 Possible features)
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Horizontal Scalability Architecture can add servers/nodes to handle increased loads. |
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Transaction Processing Speed Time to process a standard risk event or transaction. |
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Maximum Supported Records Largest volume of risk/control records the system supports. |
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Data Ingestion Rate Volume of risk or event data ingested per unit time. |
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Concurrent User Performance Number of concurrent users without notable slow-down. |
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High Availability (HA) Support System includes redundancy and failover for uptime targets. |
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Disaster Recovery Options Automated tools for backup and business continuity. |
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Configurability & Customization
(0 Yes /0 Known /8 Possible features)
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Custom Workflow Builder Graphical tools to design and modify business workflows. |
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Field/Screen Customization Add, remove, or edit data fields and screen layouts. |
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Rule Engine Create business logic to automate processes under specified conditions. |
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Custom Risk Scoring Formulae Design and implement unique risk scoring models. |
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Localization (Language/Region Support) Support for multiple languages, currencies, and date formats. |
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Branding Support Ability to add company logos, brand colors, and white labeling. |
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Custom Alert Rules Tailor when and how system sends notifications or escalations. |
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API Extension Points Ability to extend data model and business process through APIs. |
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Auditability & Traceability
(0 Yes /0 Known /6 Possible features)
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Comprehensive Audit Trail Complete logging of all changes to risk records and configurations. |
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Version Control Ability to roll back to previous states of data, methodologies, or configurations. |
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User Activity Monitoring Monitor and review individual user actions for compliance. |
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Change Approval Workflow Enforces approval of critical changes before implementation. |
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Integrated Document Management Store, version, and audit supporting documents within the platform. |
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Time-stamped Logs Logs include accurate date/time stamps for forensic analysis. |
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Security & Data Protection
(0 Yes /0 Known /8 Possible features)
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Data Encryption at Rest and in Transit Sensitive data is always encrypted both during storage and transmission. |
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Granular Access Permissions Fine-grained control over specific data, modules, and features. |
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Data Masking Masking of sensitive fields in UIs, reports, and exports. |
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Anomaly Detection Automated detection of suspicious access or usage patterns. |
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Penetration Testing Certification Third-party validation of platform security posture. |
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Security Incident Alerts Real-time notification of detected security events. |
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Data Retention Policies Ability to configure and enforce retention periods for sensitive data. |
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Audit Compliance (e.g., SOC2, ISO 27001) Certified compliance with recognized security standards. |
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Collaboration & Communication
(0 Yes /0 Known /8 Possible features)
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Team Task Assignment Assign specific tasks to teams or individuals in platform. |
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Internal Messaging Communicate, comment, and share insights within the platform. |
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Document Collaboration Co-author, review, and track document changes. |
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Notifications & Alerts Send out time- or event-based notifications to stakeholders. |
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Feedback & Survey Tools Embedded features for soliciting and aggregating user input. |
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Meeting Scheduling Integration Tools to coordinate risk meetings or reviews. |
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Number of Supported Collaboration Users How many users can simultaneously work together on a risk or task. |
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Integrated File Sharing Directly share reports, evidence, and documents with stakeholders. |
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