Wolters Kluwer’s NILS™ Risk Library is an insurance-specific risk taxonomy and checklist designed to help insurers identify, inventory, and standardize compliance risks across operating areas (e.g., underwriting, claims, product, producer licensing). It is described by the vendor as an input to risk-based compliance programs, particularly those aligned to how U.S. regulators conduct market conduct exams.
Key vendor-stated capabilities include:
- A sizeable library of risk factors cross-referenced to lines of business, functions, and index terms (via a proprietary thesaurus tied to NILS INsource).
- Cross-references to the NAIC Market Regulation Handbook to support exam-readiness and alignment with regulator expectations.
- Intended to serve as a centralized reference for prioritizing compliance activities.
(Primary product documentation and product sheet.)