SAO PAULO, Brazil and NEW YORK, Dec. 19, 2014 (GLOBE NEWSWIRE) -- Nasdaq's BWise (Nasdaq:NDAQ), a global leader in enterprise Governance, Risk Management and Compliance (eGRC), announced today that it has been selected by PortoSeguro, one of Brazil's largest insurance companies, to help support its new business risk management process. Porto Seguro will use BWise for Internal Audit, Internal Control, Compliance and Operational Risk Management as well as to support its new loss database for compliance with Superintendência de Seguros Privados (SUSEP), a local regulation institution for insurance companies.
The BWise® GRC Platform will not only provide the technology to support the initiative but will also help Porto Seguro adapt to the new enhanced business risk management process. The BWise solution will help standardize the methodologies across the organization, provide one source of integrated information, enable better risks and controls analysis, and streamline overall risk management.
"We now have an integrated approach allowing a convergence between the functions of Risk Management, Internal Control and Compliance," said Reinaldo Pontes, Internal Audit Manager, Porto Seguro. "Internal Audit may have its processes fully supported by the solution so that we can perform with risk-based annual audit planning and management while having an integrated 360-degree view of the company."
"In addition to the advantages of having integrated GRC risk management information, the insurance industry is heavily focused on analyzing data to identify insights on key risks and implementing workflows to mitigate the potential incidents and losses," said Lene Araujo, Director of Risk and Internal Control, Porto Seguro. "With BWise, we can easily record incidents, losses and near misses which will help us create a robust database to support our data analysis relative to SUSEP compliance. The solution ensures that all relevant information regarding incidents and related events is recorded and its specific workflows can be activated for analysis within all departments."
"We are pleased to welcome Porto Seguro to the BWise GRC community," said Luc Brandts, Head of R&D and Strategy, BWise. "As a large insurance and financial services enterprise, they understand the 'think big, start small' GRC principle very well. With an increasing number of global insurance and financial services companies in our customer base, we are able to share our knowledge and leverage experiences to more greatly benefit their mutual needs."
BWise is a Nasdaq company and positioned by independent analysts such as Forrester and Gartner as a leader in enterprise GRC Platforms. BWise has sales, service and support offices around the world. More information: www.bwise.com.
About Porto Seguro
Porto Seguro, headquartered in Campos Eliseos, in the central region of São Paulo, was founded in 1945 under the name of Porto Seguro Companhia de Seguros Gerais by a group of executives. At the time of its constitution, it operated in insurance and reinsurance of P&C. In 1972, Abrahão Garfinkel, former director of Boa Vista Insurance Group, acquired control of the company, which then occupied the 44th position in the market ranking. Porto Seguro began its operations with 50 employees and now directly employs 13,000 employees, and 12,000 suppliers through its companies. It has 135 branches and regional offices to serve more than 20,000 brokers and 6 million customers across the country. It also has a headquarter in Uruguay.
Porto Seguro operates in all lines of insurance: Automobile, Company Health, Business, Patrimonial, Life and Transportation, through the companies Porto Seguro, Porto Seguro Saúde, Porto Seguro Vida e Previdência, Porto Seguro Uruguay, Azul Seguros and Itaú Auto e Residência. Among the businesses of the Group, it is also recognized for Consortium of Real Estate and Automobiles, Providence, Investments, Financing, Credit Cards, Protection and Monitoring, Condominium and Residence Services and Telecommunications.
BWise, a Nasdaq company, is a global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. Based on a strong heritage in business process management, the BWise® GRC Platform provides companies with highly-rated, proven software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management.
BWise's end-to-end solutions support an organization's ability to understand, track, measure, and manage key organizational risks. BWise helps companies truly be in control by balancing performance with their financial and reputational risks, improving corporate accountability, increasing financial, strategic and operating efficiencies. Using BWise, organizations are able to efficiently comply with anti-corruption regulations like FCPA and the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II and III, Dodd-Frank, ISO-standards, and many more.
BWise sales, service and support offices around the globe provide for the GRC needs of hundreds of leading companies worldwide. For more information, visit www.bwise.com.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq home to more than 3,500 listed companies with a market value of over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaq.com/ambition or www.nasdaqomx.com.
CONTACT: Media Contact details: Nasdaq Ryan Wells Communications Director +1 212 231 5541 Ryan.email@example.com www.nasdaqomx.com www.bwise.com Porto Seguro Edelman Significa Kelly Silva Senior Account Executive +55 (11) 3060-3355 | +55 (11) 9 6620-2234 firstname.lastname@example.org www.edelmansignifica.com
Source:The NASDAQ OMX Group, Inc.