CalcFocus Successfully Completes SOC 2® Report 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)

Philadelphia, PA, October 31, 2018 –  CalcFocus cloud-hosted illustration and administration services for the life and health insurance and annuity industries successfully completed a SOC 2 audit on October 31, 2018. 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). CalcFocus has committed to repeat the SOC 2® audit yearly based on successive 12-month periods from November 1 through October 31.

The audit was conducted by Accounting and Business Consultants, LLC and their team will test all CalcFocus security controls going forward.

“The  CalcFocus control  environment  reflects  the  philosophy  of  the CalcFocus  management team concerning  the importance of the applicable trust services criteria and related controls for CalcFocus Illustration and Administration cloud-hosted services”, says Bhushan Chatnani, CalcFocus’ Chief Security Officer. “The CalcFocus Risk Officer, members of the Information Security Committee and I have responsibility  for establishing CalcFocus policies, procedures and processes and for the design and operation of the associated controls.”

“My role and that of the CalcFocus members is to reinforce the critical importance of security best practice – Bhushan and team have organized our control processes with automation to quickly establish that all required controls are exercised on-time and documented thoroughly”, adds Tommy McCahill, CalcFocus’ President and CEO.

About CalcFocus

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.

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