Lovys contracts Seyna AML to automatize its AML-CFT controls

One of France's leading neo-insurer contracts Seyna AML to radically streamline its AML-CFT controls

Lovys contracts Seyna AML to automatize its AML-CFT controls

Paris, 4th of January 2024,

In an innovative move, Lovys, a renowned neo-broker in the insurance sector, has announced a significant partnership with Seyna, brokers’ leading insurance platform. This collaboration enabled Lovys to roll out the technology and automatize its Anti-Money Laundering and Counter-Financing of Terrorism (AML-CFT) procedures within a remarkably short span of one week.

Streamlining Compliance: A Week’s Journey to Automation

Lovys, one of Europe’s hottest insurtech, known for its diverse and digitalized insurance products, including home, auto, pet health, and smartphone insurance, faced a critical challenge: maximizing client time while maintaining stringent AML-CFT compliance. The solution required not only to automate compliance checks, including adherence to extraterritorial American lists, but also to implement it rapidly.

Seyna AML - ready for take-off after just a week

In response, Seyna AML offered a comprehensive package:

  • Fully managed hosting and back-office maintenance.
  • Automated control processes via API for all insured individuals and companies, across various sectors.
  • Flexible control options with historical data export capabilities.
  • An integrated client messaging system for centralized case management.

Tangible Benefits and Cost Reductions

The partnership's most notable achievement was to have everything required at hand in under a week. A couple of weeks later, Seyna AML had been rolled out and was fully functionnal. This lead to considerable time gains for Lovys employees as it automated all first-level controls; a signigicant improvement when we know that 74% of AML-CFT expenses are HR related.

Ghislain Averty, Lovys' Chief Insurance Officer, expressed his enthusiasm for the partnership, stating, “In just one week, we had access to all the necessary technology to automate the majority of our AML-CFT processes. The solution is easy and collaborative, which allows us to save valuable time, time that can be spent with our clients."

Stephen Leguillon, Seyna’s CEO, shares : “Protecting people is hard. Brokers have to deal with an incredible amount of complexity on a daily-basis to be able to cater to their customers’ needs. At Seyna, we believe technology should be a catalyst to protection, not something that hold you back. Seyna AML is one of those bricks that help you save time on time-consuming tasks to spend it with your customers.”

About Lovys

Lovys is an innovative neo-broker, specializes in digital insurance solutions for home, auto, pets, and smartphones. Known for its flexibility and user-friendly interface, Lovys offers customizable insurance services designed for ease and convenience, catering to the needs of modern consumers. Founded in 2017, Lovys now has a presence in Portugal, Spain and France and will continue its paneuropean expansion.

About Seyna

Seyna empowers insurance brokers to grow their business. Seyna’s platform combines tailored insurance products and technology to unleash brokers’ time and creativity.
Over 100 insurance brokers are already building their insurance business on Seyna, creating unique and personalized insurance experiences, from underwriting to claims handling. The platform automates administrative and compliance tasks, freeing up brokers’ time to spend with policyholders. Additionally, Seyna is built as an open infrastructure, enabling brokers to integrate new IT solutions, seamlessly.

Related articles