Insurance compliance software refers to a set of tools and applications designed to help insurance companies manage and adhere to various regulatory requirements, industry standards, and internal policies. It manages documents like policies, procedures, and audits and generates reports on compliance-related activities, providing insights into areas that may need improvement. It also provides an efficient and streamlined way for customers to access information about their policies and to make changes to their coverage, thereby helping improve customer satisfaction and reduce the risk of customer complaints. By streamlining compliance processes, it reduces the risk of non-compliance and also ensures that the company operates within the legal and regulatory framework.