CalcFocus Successfully Completes Second Successful SOC 2® Audit.

Philadelphia, PA, November 22, 2019 – CalcFocus’ cloud-hosted Inforce Illustration and Policy Administration platforms  for the Life and Health insurance and Annuity industries successfully completed a second successful SOC 2 audit on November 22, 2019. The audit was conducted based on the criteria for a description of a service organization’s system as set in DC 200, 2018 Description Criteria  for a Description of a Service Organization’s System in a SOC 2 ® Report (AICPA, Description Criteria).

The goal is to testify that CalcFocus provides reasonable assurance that CalcFocus’ service commitments and system requirements were achieved based on the trust services criteria relevant to security, availability, and confidentiality (applicable trust services criteria) set forth in TSP 100, 2017 Trust Services Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Trust Services Criteria). The report from this second successive audit was transmitted to CalcFocus on November 22, 2019 and reported no issues with CalcFocus administration of security controls and no security breaches or availability loss.  CalcFocus commits to repeat the SOC 2® audit yearly based on successive 12-month periods from October 1 through September 30. 

The audit was conducted by Accounting and Business Consultants, LLC and their team will test CalcFocus security controls for the 2019 – 2020 period. 

CalcFocus management congratulates Bhushan Chatnani, CalcFocus’ Chief Security Officer; Lindsey McCahill, CalcFocus’ Risk Officer; and all members of the CalcFocus Information Security Committee for once again prioritizing the importance of the applicable trust services criteria and related controls. 

CalcFocus implemented robust control process automation with responsible party reminders and schedules to ensure all required controls are exercised on-time and properly documented. All CalcFocus SaaS initiatives prioritize client and policyholder security.

CalcFocus was founded in 2013 by a group of insurance technology veterans in response to seismic changes in the life and annuity industry landscape. CalcFocus Forecast Illustration and Achieve Administration products are cloud-hosted web services to augment or replace selected legacy illustration and policy administration functionality; and CalcFocus services may be orchestrated to become a comprehensive enterprise policy administration and illustration platform. The CalcFocus platform was designed with a pragmatic approach to configurability and a dogmatic approach to quality. Learn more at www.calcfocus.com.