Sanctions Checking - Automated Client Screening

Benefits of Sanctions Checking

What is the Sanctions Checking Module?

The sanctions checking module allows you to screen clients against Her Majesty’s Treasury UK and NI sanctions list at Point of Sale from within the Open GI system or retrospectively, via a real time look-up.

This avoids litigation associated with the sale of insurance to sanctioned organisations and individuals such as those guilty of terrorism.

Key Features

The module uses a real time look-up facility which can be activated at the quotation stage
or when converting a policy. It checks against the prospect’s name, address, postcode
and date of birth.

Retrospective look-up facility allows batch checks to take place in the Back-Office on all
live clients. Due to continuous updates of the sanctions list regular re-screening is
necessary.

The matching process returns results based on an accuracy/tolerance threshold, which
will return a match quality message dependent on a high percentage match.

Fully integrated with the Back-Office. No third party intervention involved as Open GI
store all required information via a hosted sanction search hub.

Standard audit reports and audit trail flags in each client record.

Fuzzy logic technology automatically matches records using letters rather than full
names – preventing slight name manipulation by consumers. This includes name
reversal and character manipulation.

All data is HTTPS encrypted, adhering to system security and best industry practice.

Advantages

You can configure when and how often the sanctions checks happen, providing flexibility for your business.

Batch checks can be scheduled at a time to suit you and will run overnight.

If the client is clearly not a risk to your business all returned searches can be overridden if deemed necessary using the override option with free-type. This is then added to the client record.