‘Compliance has become an increasingly important part of the insurance journey, but it shouldn’t become a barrier to doing business,’ says managing director
Digital distribution platform provider IS2 has partnered with identity verification specialist Simplified.ID to integrate compliance and identity checking services into its Atlas platform.
The integration gives insurers, brokers and MGAs access to Know Your Customer (KYC), Anti-Money Laundering (AML), Politically Exposed Person (PEP) and sanctions screening services through a single platform.
IS2 said the API integration is designed to streamline compliance processes, helping firms meet regulatory requirements while reducing friction in the customer journey.
As part of the partnership, IS2 clients will also receive preferential commercial terms for Simplified.ID’s services.
The companies said the combined offering would provide insurers and brokers with access to identity verification tools supported by established data sources, while creating a full audit trail to demonstrate compliance where required.
Chris Clare, chief executive at Simplified.ID, said the company has invested in “building comprehensive, reliable data sources and developing deep expertise in the ever changing regulatory landscape.”
He added: “That means insurers and brokers can have confidence they’re making informed decisions based on robust, market leading intelligence.
“Partnering with IS2 allows us to embed those capabilities directly into one of the insurance market’s leading digital distribution platforms.”
Compliance focus
IS2 managing director Simon Pritchard added that regulatory compliance had become an increasingly important aspect of insurance distribution.
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“Compliance has become an increasingly important part of the insurance journey, but it shouldn’t become a barrier to doing business,” he said.
Pritchard added that integrating Simplified.ID into Atlas would allow clients to access KYC and AML capabilities without leaving the platform.
Clare said that embedding the firm’s services into Atlas would help make compliance processes simpler and more transparent for insurers and brokers, while providing the auditability needed to demonstrate regulatory compliance.
The partnership further expands the capabilities of Atlas, which IS2 said enables insurers, MGAs and brokers to manage customer acquisition, underwriting, compliance and policy administration through a single technology platform.
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