The use of Shift's technology is part of NoveoCare's leading-edge efforts in the fight against using insurance instruments in the act of money laundering and the financing of terrorism (AML-CFT).
NoveoCare, an independent management platform for life and health insurance, totals 2 million protected persons. With a turnover of more than
'Our continued growth has given us the capability to invest in solutions with the highest possible standards and
Companies doing business in the insurance industry have an obligation to inform themselves about the users of their services and to prohibit access to potential perpetrators of money laundering or terrorist financing. Shift Financial Crime Detection is designed to help identify at-risk entities and minimize illegal activity all while helping to demonstrate regulatory compliance. The solution uses AI to automate a series of checks and controls on different entities and transactions. It uses a set of internal and external data to verify identity, analyze suspicious behavior, predict risk, and assess regulatory compliance.
'Combating financial crime and ensuring regulatory compliance is a major challenge for all insurance players,' stated
About NoveoCare
Created in 1988, NoveoCare is an independent player specializing in the management of medical, provident, retirement and borrower contracts on behalf of third parties. The teams support risk carriers (insurers, mutual societies, provident institutions, bancassurances) and brokers from the implementation and throughout the life of the contracts, with the aim of delivering a quality service throughout the value chain: memberships, services, contributions, customer relations.
About
Contact:
Tel: +1.617.416.9216
Email: rob.morton@shift-technology.com
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