With a myriad of ways to configure today’s complex cloud platforms, it’s easy to assume that controls have already been built in. All too often, however, risk and control considerations are set aside during design and implementation, something organizations unfortunately discover when they perform post-live control testing.
If process and system risks are assessed and automated controls implemented when the platform is configured, testing time per control may be significantly reduced.
Such is the case for Guidewire, a leading cloud platform that automates claims and policy procedures for property and casualty (P&C) insurance companies. More than 450 insurers, from new ventures to the largest and most complex in the world, run on Guidewire.
KPMG can work alongside organizations to assist them in developing a methodology for Guidewire implementations that includes a risk-and-controls matrix for policy administration, billing, and claims. Additionally, our in-depth knowledge of Guidewire’s roles and privileges helps us advise clients on how to avoid separation-of-duty (SOD) conflicts.