Tailoring legal data capture for a global insurer

Client profile

A global provider of insurance products. Our client wanted to tailor the PanOptic system (now known as RiskScreen In-Life Monitoring) set up so that from the outset it could accommodate the variety of legal structures its staff engages with daily.

The challenge

Our client sells products to a wide variety of customers who in turn have adopted a range of legal forms, such as individuals, corporates, partnerships etc. Our client wanted a risk management solution that could channel appropriate and sufficient data collection in accordance with the legal form of the underlying customer from the outset.

How RiskScreen helped

We conducted research to review the relevant legalisation and supervision rules applicable to the UK insurance industry to identify core due diligence data field requirements for each legal structure that was relevant to our client. For each relevant legal structure, we then identified through best practice experience, potential forms of evidence to be gathered to demonstrate compliance with each legal form identified. We worked with the in-house and client implementation teams to ensure our research findings were incorporated into the client’s PanOptic set-up.

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RiskScreen was founded by experts in financial crime. It’s because of this unrivalled subject matter expertise that companies choose to partner with us.