AML-CFT Compliance Automation for an internationally-oriented neo-insurer

As an insurance love-brand, Lovys is a neo-broker offering digitalized offerings and pathways across various verticals, ranging from home insurance to automobile, including animal health and breakdown, damage & theft of smartphones.

The neo-broker's goal was to free up as much time as possible for its clients. To achieve this, they were looking for a solution capable of automating their AML-CTF checks. The tool had to be able to check U.S. lists for extraterritorial obligations.

Finally, the solution had to be quick to deploy.

• It was set up rapidly (everything was available in less than a week, and they were able to develop their API developments to automate as many tasks as possible).

• Hosting and back office maintenance are 100% operated by Seyna AML.
• Automated checks are performed via API on the entire insured base, whether individuals or companies, and across all sectors of activity.
• The possibility to conduct checks spontaneously or during defined periods, with the option to export the history of checks.
• Monitoring and processing of cases through a customer messaging system integrated directly into the application, allowing legal, compliance, and management officials to handle the case centrally.

• Deployment of the solution via API in one week, allowing the use of Seyna AML directly from their client tool.
• Drastic reduction in human processing costs for claims through the automation of first-level controls. As a reminder, 74% of costs related to AML-CTF are human costs.

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