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

Discover how Lovys was able to automate its AML-CFT compliance processes in just 1 week

Lovys customer case

The partner

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.

Our challenges

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).

In one week, we had access to all the technology needed to automate the majority of our AML processes. The solution is easy and collaborative, allowing us to save valuable time to spend with our clients.

Ghislain Averty

Chief Insurance Officer

Our solution

  • 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.

Results achieved

  • 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.