A More Effective SIRA
The insurer gained clear insights into the gaps within the current risk analysis and could now independently improve its SIRA as a proactive risk management tool.
A leading health insurer had implemented the Systematic Integrity Risk Analysis (SIRA) but found that it wasn’t fully meeting expectations. Originally intended to identify integrity risks, the analysis was mainly used as a compliance report rather than a proactive risk management tool. This raised concerns about its effectiveness and real impact on organizational integrity.
The insurer aimed to enhance and modernize the SIRA, transforming it into a dynamic steering instrument for risk management. To achieve this, Compliance Champs was brought in to conduct a current state assessment and provide recommendations on optimizing the process to align better with real-world risks in the healthcare sector.
Despite having a structured integrity risk analysis in place, several key challenges emerged:
To optimize the SIRA, Compliance Champs followed a structured four-step approach:
This provided a clear view of where improvements were needed to enhance the SIRA’s effectiveness.
The findings and recommendations were presented to the Compliance team, where we discussed how these improvements would enhance overall risk governance.
By conducting a thorough risk assessment and collaborating closely with internal stakeholders, Compliance Champs provided the insurer with the tools needed to significantly enhance its risk management framework.
Interested in optimizing risk management within your organization? Let’s talk.