Insurance Software Provider, Silvervine, Inc. Completes SOC 1 (SSAE 16) Type 2 Examination

PR Newswire

WARNER ROBINS, Ga., Feb. 19, 2019 /PRNewswire/ -- Silvervine, Inc., a wholly owned subsidiary of Volaris Group, Inc., announced today that it has completed an SOC 1 (SSAE 16) Type 2 examination: a third-party analysis of the quality and security of its service offerings. This type of examination is widely recognized as the authoritative guidance for assessing an organization's internal control management.

SOC (System and Organizational Controls) is a reporting framework for collecting information about the risks associated with an organization's service offerings. Specifically, SOC 1 focuses on the provider's business processes and IT controls. The SSAE (Statement on Standards for Attestation Engagements) assesses the design, operation, and effectiveness of the provider's internal control landscape; Type 2 examinations measure these factors over a period of time.

The SSAE 16 was developed by the American Institute of Certified Public Accountants (AICPA) as a uniform way for service organizations to independently assess and disclose information about the design and control of their services. Companies who complete an annual SOC 1 examination can evince a substantially higher level of assurance and operational visibility than those that do not.

This year's examination of Silvervine was performed by 360 Advanced, Inc., a full-service IT assurance, compliance, and security firm that specializes in integrated compliance solutions (including conducting SOC 1 examinations). The completion of this examination expresses Silvervine's commitment to creating and maintaining the most stringent controls needed to ensure that the services it provides its customers demonstrate the highest quality and security.

The Service Auditors' Report includes a detailed description of Silvervine's controls, as well as an independent assessment of whether the controls are placed in operation, suitably designed, and functioning effectively. To receive a copy of the report or pose further questions, please email Michael Crain, Director of Information Technology at Silvervine (michael.crain@silvervinesoftware.com).

About Silvervine:
Silvervine is the P&C insurance policy administration system of choice for many of the nation's most sophisticated insurers and MGAs. It offers a flexible, web-based core administration suite with game-changing innovations such as mobile account access, direct-to-consumer sales capabilities, and real-time quoting and underwriting. Silvervine also offers payment processing services for all insurance sectors and sizes as well as print/mail fulfillment for the P&C, workers' compensation and life insurance sectors. Visit https://www.silvervinesoftware.com/ to learn more.

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