Up to 80% less false positive matches
Award-winning AML just for Insurance
“advanced screening and detection capabilities”
“FinScan stands out with its tailored solutions”
Chosen by 25% of the World’s Top 20 Insurance Companies
Built for Every Type of Insurance Business
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Often operating with high volume with limited customer data, accurate screening can become more difficult for P&C and general insurers. Claims frequently involve third parties, vendors, and beneficiaries, increasing sanctions risk at payout.
By improving match accuracy despite fragmented or minimal data, FinScan helps P&C / general insurance companies reduce false positives in high-volume, low-touch workflows and screens names and transactions across claims, vendors, and third-party payments.
How Insurers Use FinScan
Insurance companies achieve 99.85% screening accuracy on average with FinScan while dramatically reducing manual review workloads.
Global Sanctions & Watchlist Screening
Screen policyholders, counterparties, and payments against global sanctions lists including OFAC, UN, EU, and HMT, along with PEP and adverse media sources.
Policy Lifecycle Monitoring
FinScan supports continuous monitoring throughout the policy lifecycle, detecting changes in sanctions status, adverse media, or customer risk.
Data Quality & Entity Resolution
Insurance data is often fragmented across systems and jurisdictions. FinScan Enhance improves screening accuracy by cleansing, normalizing, and linking customer records before screening.
Configurable Risk Scoring
Risk scoring and screening logic can be tailored by product type, geography, customer segment, or distribution channel.
Real-Time & Batch Screening
FinScan supports both real-time screening for payment flows and batch processing for large policyholder databases.
Explainable Decisioning
Detailed audit trails and transparent match logic help insurers demonstrate defensible compliance decisions to regulators and auditors.
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FinScan addresses our regulatory and financial crime risks on a global scale—providing exceptional accuracy for the most complex screening scenarios.
James Parker, Risk & Assurance Director, Managing Agency Partners (MAP)
Why Insurers Choose FinScan
Improved screening across fragmented policy systems. Faster onboarding and claims processing.
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A GLOBAL INSURER
Reduced False Positives by 40%
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70M+ records screened daily
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enforced risk tolerance thresholds in practice
FinScan has proven it can support global scale and complex regulatory requirements without compromising control.
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INSURTECH PLATFORM
Reduced certificate issuance from days to mins
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advanced, configurable screening for complex webs of parties
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automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL INSURER
Screens 95M records consistently across 10 countries
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155 data feeds seamlessly connected
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native-to-native screening, transliteration technology where native lists absent
Over two decades, the health insurer has relied on FinScan to configure AML to each country’s regulatory regime.
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A P&C INSURANCE LEADER
Cleans their data & discovers 400+ missed OFAC-listed customers
The removal of 560,000 duplicate alerts saved 2,796 hours of manual review time annually, equal to $75,000 in full-time equivalent (FTE) costs.
A LEADING UNDERWRITER
FinScan consistently caught more than 38 algorithmic variations
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phonetic algorithms, date shifts, character mapping, abbreviations, concatenations, and transliteration and translation errors
Insurance-Tailored Screening Workflows
Perform policyholder onboarding, claims processing, and beneficiary checks, integrating seamlessly into core insurance systems.
Significant reduction in false positives
Avoid unnecessary delays in policy issuance and claims payouts by focusing investigative resources only on true risks.
Advanced Matching for Complex Name Structures
Screen policyholders, reinsurers, and beneficiaries from diverse regions and languages.
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Global sanctions and PEP coverage
Ensure compliance across multiple jurisdictions internationally across expatriate and foreign policyholders.
FATF, OFAC, EU, UK regulations and more, multi-language screening, configurable risk scoring.
Audit-Ready Compliance
Satisfy regulators and auditors with built-in audit trails and reporting features that make the process easier.
A GLOBAL INSURER
Reduced False Positives by 40%
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70M+ records screened daily
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enforced risk tolerance thresholds in practice
FinScan has proven it can support global scale and complex regulatory requirements without compromising control.
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INSURTECH PLATFORM
Reduced certificate issuance from days to mins
-
advanced, configurable screening for complex webs of parties
-
automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL HEALTH INSURER
Screens 95M records consistently across 10 countries
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155 data feeds seamlessly connected
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native-to-native screening, transliteration technology where native lists absent
Over two decades, the health insurer has relied on FinScan to configure AML to each country’s regulatory regime.
A LEADING UNDERWRITER
FinScan consistently caught more than 38 algorithmic variations
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phonetic algorithms, date shifts, character mapping, abbreviations, concatenations, and transliteration and translation errors
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Recommended Products
A TECH-FORWARD SPONSOR BANK
Reduced False Positives by 74%
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dropped noise words, incorporated spelling variations & cultural naming conventions
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fuzzy match capture improved from 82% to 93%
Achieved 60 ms end-to-end latency per transaction
INSURTECH PLATFORM
Reduced certificate issuance from days to mins
-
advanced, configurable screening for complex webs of parties
-
automated screening & certificate issuance
FinScan’s integration and screening just works . . . silent, efficient, and always dependable.
A GLOBAL FINANCIAL SERVICES FIRM
46K misplaced names identified, 560K false matches eliminated
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misplaced names, now screened, identified 407 actual sanctions matches
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20% of false matches eliminated saved 1.8 FTE in resources
A LARGE SHIPPING COMPANY
93% reduction of existing near matches
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solved data quality issues caused by inconsistent notations
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fine-tuned matching scenarios and precise watchlist pre-filtering
Real-time API-based screening, where automated parsing creates sub-records to catch true hits
FAQs
Insurance companies face increasing regulatory scrutiny and financial crime risks—especially with products like single-premium life policies, cross-border payments, and third-party transactions. Unlike banks, insurers often operate with limited customer data and fragmented legacy systems, creating blind spots in KYC and due diligence. They may lean on banking partners for compliance assistance, but regulators expect insurers to run independent AML programs.
FinScan helps close these gaps by delivering advanced AML, sanctions, and KYC capabilities purpose-built for the insurance industry. It enables insurers to detect hidden risks, meet evolving compliance obligations across jurisdictions, and avoid costly fines, reputational damage, and operational delays—all while improving customer experience and maintaining business continuity.
Yes. FinScan’s real-time payment screening supports fast-moving transactions, including claims, commissions, and cross-border premiums. It helps detect suspicious patterns without delaying legitimate payouts.
Yes. FinScan is designed to integrate with existing insurance platforms and data sources, so you don’t have to change the way you work. It centralizes risk data for a complete customer view, reducing duplication and enhancing risk detection.
Yes. FinScan is designed to solve the most difficult problem for insurers operating across multiple jurisdictions: navigating inconsistent AML and sanctions regimes. It supports a wide range of regulatory frameworks, including FATF, OFAC, EU, UK, and APAC-specific guidelines. With multi-language name screening, configurable risk scoring, and robust audit trails, FinScan enables organizations to comply with both local and international regulations as these evolve.
FinScan is recognized for its insurance-specific expertise, earning Chartis’ AML Excellence in Insurance Award in 2025 and is trusted by some of the world’s leading insurers including Canada Life, The National Health Insurance Company, MEDGULF, and more.
It offers:
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Insurance-tailored screening workflows – FinScan accommodates policyholder onboarding, claims processing, and beneficiary checks, integrating seamlessly into core insurance systems.
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Advanced matching for complex name structures – Crucial for screening policyholders, reinsurers, and beneficiaries from diverse regions and languages.
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Minimization of false positives – Helps insurers avoid unnecessary delays in policy issuance and claims payouts by focusing investigative resources only on true risks.
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Audit-ready compliance – Built-in audit trails and reporting features make it easier for insurers to meet regulatory scrutiny during exams or audits.
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Flexible deployment options – FinScan supports both on-premise and cloud deployments to meet insurer-specific IT, data privacy, and regulatory requirements.
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Global sanctions and PEP coverage – Ensures compliance across multiple jurisdictions, critical for insurers operating internationally or covering expatriate and foreign policyholders.
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