Hitec Presents to the International Underwriting Association’s Compliance Committee Highlighting the Need for Policy & Procedure Management in a Regulated Environment

Slough, United Kingdom, June 30, 2013 --(PR.com)-- Chris Jones of the IUA comments: “We were pleased Hitec joined us at our latest Compliance Committee meeting. The demand for Policy Management in a regulated environment is growing as compliance challenges increase. Hitec understand the issues that organisations in heavily regulated markets are struggling with and provide the support that these businesses need.”

The case study, which was introduced by Andrew Bailey – Company Secretary & Compliance Officer - Legal and Regulatory Affairs Department at Markel International, included:

· The challenges of communicating Policies effectively - organisations are acutely aware that an inconsistent approach to Policy Management leads to confusion for recipients and insufficient levels of governance and reporting for auditors and regulators - resulting in potentially damaging and costly compliance breaches;

· Proving that Policies and Procedures have been understood and agreed to - in order to satisfy auditors and regulators and ensure Best Practice;

· The implementation of Hitec’s Policy Lifecycle Management solution PolicyHub - a built for purpose, cost effective solution that protects businesses from serious risks by providing evidence of Best Practice.

Andrew Bailey comments: “PolicyHub gives us a flexible, yet simple and effective solution for communicating Policies plus the certainty that they have been read and acknowledged by our staff and it also acts as a one-stop library of relevant Policies for each employee.”

Barny Brummell, Business Development Manager at Hitec comments: “Increasing demands of statutory and regulatory legislation are proving a real challenge for the Insurance community. They are acutely aware that without clear Policies and Procedures to manage the governance, legal and regulatory challenges, their business is under significant risk and threatened by costly compliance breaches, leading to serious reputational and financial damage. We are working with a growing number of them who are looking for support in this area.”

For more information contact Hitec on 01628 600900, email: enquiries@hiteclabs.com or visit: www.hiteclabs.com.

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About Hitec Laboratories:

For more than 20 years Hitec Laboratories has been helping Customers in the Finance and Insurance Sectors to address some of their most pressing business and operational challenges. Hitec solutions span Governance Risk & Compliance (GRC) and Enterprise Content Management (ECM), enabling organisations to reduce costs, increase efficiency, ensure compliance and protect against risk. Today, Hitec enjoys a large blue chip customer base in over 30 Countries worldwide.

Hitec’s overriding belief in collaborating with Customers and Partners, has led to its rapid expansion, both organically and by acquisition. Their longstanding Customers of fifteen years or more are testament to their passion for partnership and desire to provide businesses with credible, tested software solutions which are continually evolving.

Hitec’s integrity is highlighted by the relationships they develop with their Customers and Industry Leaders and they continue to inspire and challenge the market as well as offering presentations and articles which aim to cultivate a co-operative business environment.