Bringing regulatory compliance into real-time

Topdanmark is one of the largest insurance companies in Denmark, offering a wide range of insurance products to private, commercial, and agricultural customers. Operating since 1899, today the company has approximately 2,000 employees working all over the country.

In the past, Topdanmark had relied on spreadsheets, PowerPoint, and SharePoint to manage risk and compliance. These tools did not provide the transparency and efficiency the company needed. To ensure the levels of compliance its customers expect, and to streamline processes for its employees, Topdanmark began looking for an alternative solution.

Today, Topdanmark uses ServiceNow Policy and Compliance Management and Risk Management within the IT organization, monitoring for technology and cyber risks. All information security policies are set-up and managed via the tool, ensuring compliance with complex regulations, such as the Digital Operational Resilience Act (DORA) and General Data Protection Regulations (GDPR).

The accuracy and efficiency of compliance and risk reporting has also been improved. Manual and automated indicators improve efficiency and help the business make strategic decisions based on accurate data. Reports for the board which used to take up to two weeks to collate can now be produced in an instant. Policy data is available to anyone in the organization via the ServiceNow platform, so regulatory compliance can be checked in real-time.

Having seen success within the IT department, there is now an appetite for Risk and Compliance across the organization and plans to implement ServiceNow Third-party Risk Management and Vulnerability Response in the near future.