Anti-money Laundering and Customer Screening for Insurers With Compliance Software
Anti-money Laundering laws impose an obligation on insurers to analyse their customers and their transactions to guard against money laundering. Life insurance contracts in particular are prone to situations that may be relevant to money laundering, such as:
- A high one-time payment into a life insurance contract
- Concluding multiple contracts within a short time with high premiums (smurfing)
- Relocation of residence abroad
To date, however, insurers have barely scratched the surface when it comes to automating the measures to combat money laundering. The workload often pushes money laundering officers to their capacity limits. Automation paves the way for more efficiency.
This brochure covers the following topics:
- Screening of customers against sanctions and PEP lists
- Monitoring of business transactions
- Monitoring of payments
- AI-powered anti-money laundering
- Why is combining rules and machine learning (ML) the key to success?
After submitting your data, you can download the brochure immediately.