Keane Business Risk Management Solutions Launches Fully Integrated Risk-Based Capital Allocation and Audit Oversight Modules

Business Wire, March 2, 2007

SCORE version 3.0 first to address UK Financial Services Authority's ICAS requirements plus a full audit suite to integrate risk, compliance and internal audit

WAYNE, Pa. -- Today Keane Business Risk Management Solutions announced enhancements to its SCORE software to address new compliance initiatives being implemented in international markets.

SCORE is a patent-pending, web-based decision-support tool that automates the key components of Enterprise Risk Management - Measurement, Management, Monitoring - making the processes faster, more collaborative, more cost-efficient, and, ultimately, more effective. SCORE provides a comprehensive view of risk and compliance, as well as the costs associated with them, to accurately track the total cost of risk in real time. The new SCORE modules introduced today will go even further and enable multinational corporations - and in particular insurance companies - to cost-effectively comply with the latest international regulations.

SCORE's Risk-Based Capital Allocation Module provides up-to-the-minute Capital-to-Risk evaluations driven by the input of data from risk management, compliance, and actuarial departments. 24/7 dynamic risk profiles/mappings will help U.K.-based insurers comply with the Financial Services Authority's Individual Capital Adequacy Standards (ICAS), which require insurers to monitor and quantify capital adequacy on a consistent basis.

Dorothy Flynn, President of Keane BRMS, said, "This new module addresses the needs of insurers by integrating all inputs to capital adequacy into a single data collection and analysis tool that updates on a real-time basis. We expect demand for SCORE and its Risk-Based Capital Allocation Module to grow as insurance regulators continue to require more accurate risk assessment tools from the companies they monitor. Already, the European Union is planning to follow FSA's lead with its Solvency II regulation later this year, and we expect insurance governing bodies in the United States will not be far behind in requiring this level of reporting."

Keane BRMS also introduced a new Audit Module that makes the convergence of Risk, Compliance and Internal Audit a reality in practice. The SCORE Audit Module facilitates a third party view of mitigation and compliance activities, closing the loop between risk, compliance and audit disciplines. It centralizes an organization's governance activities in one integrated portal and makes audit planning, execution and management a seamless task.

Flynn continued, "SCORE's Audit Module helps companies to centralize audit functions across the enterprise, providing credible and defensible audits, reporting and benchmarking. This is critical, as companies have a strong demand for cost-effective solutions for labor-intensive but mandatory governance, compliance, and reporting activities that are required more and more frequently."

ABOUT KEANE BUSINESS RISK MANAGEMENT SOLUTIONS

Based in suburban Philadelphia, with additional offices in Baltimore and London, Keane BRMS delivers the tools and expertise to design, build or enhance comprehensive ERM and compliance programs. Our proven solutions include professional services and technology to truly Measure, Manage and Monitor risk across the enterprise in an easy and collaborative manner. Keane BRMS is a division of The Keane Organization, Inc., a leading provider of financial risk and compliance solutions to Fortune 1000 corporations, financial institutions, and mutual funds. For more than 50 years, Keane has helped clients manage state and federal compliance challenges in a way that builds economic value with customers and preserves key relationships with investors, employees, and vendors. This 'Beyond Compliance' approach allows executives to proactively address regulatory issues and fiduciary responsibilities with programs that measurably increase revenues.

For more information about Keane BRMS, please visit us at www.KeaneBRMS.com.