AML Due Diligence & Risk Screening for the Insurance Industry: Best Practices for Effective & Efficient Controls

Presented in partnership with Kharon

In line with evolving regulatory expectations, insurance industry risk managers require capabilities to proactively identify sanctions-related exposure. Insurers and reinsurers are particularly challenged due to the business necessity in certain circumstances of maintaining indirect relationships with insureds. Maintaining an effective control framework using high quality data allows underwriters and producers to make informed risk-based decisions. The availability of risk-relevant data can also accelerate the speed at which insurance transactions can be processed – both at the time at which a policy is underwritten and at the point when a claim is presented.

In this session, Kharon and FinScan have partnered with industry experts from Gallagher and Liberty Mutual to discuss insights from regulatory guidance and lessons learned from enforcement actions, as well as best practices for enhancing both effectiveness and efficiency in due diligence and risk screening processes.

Learn about:

• Recent regulatory guidance and enforcement actions related to insurance industry compliance risk
• Best practices for strengthening insurance risk screening processes
• Real world case studies related to insurance industry risk, including associated insights from leading practitioners

Speakers: