Global identity verification provider ID-Pal has launched its politically exposed persons and sanctions screening solution for insurers.
The new tool is designed to significantly enhance the identity verification process, allowing carriers to verify the identities of their customers and to detect any potential risks associated with PEPs or individuals on global sanction lists.
Commenting on the launch, Colum Lyons, CEO of ID-Pal, said: "We are thrilled to introduce our PEPs and Sanctions screening solution to the insurance sector. We understand the challenges insurers face in verifying customer identities and mitigating risks effectively. With our innovative solution, we aim to help insurance providers navigate complex compliance requirements effortlessly. By streamlining processes and providing real-time checks, our solution will empower insurers to make informed decisions, enhance operational efficiency and build trust with their customers."
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