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Future-proof insurance compliance

Insurance

Solutions tailored to insurance sector needs

As an insurance provider or broker, reliable KYC information is crucial. At the same time, both the EU’s Insurance Distribution Directive (IDD) and various national laws require you to disclose all product information to potential customers before finalising a contract, while making sure your information flows are fully privacy compliant.

Harmoney has you covered on all fronts. Our ISO-certified modular platform streamlines your compliance processes by identifying outdated and incomplete flows and offers robust support across all your sales channels, facilitating interaction with agents, brokers and end clients. With automated KYC workflows, AML checks and reporting features, we enhance your teams’ efficiency, allowing you to focus on what matters most: delivering exceptional customer service and maximising value for your insurance business.

Insurance compliance covered from all angles

Insurance brokers face different compliance hurdles from various directions. Compliance for insurance firms encompasses more than just sanctions compliance and anti-money laundering. It also includes data protection and client privacy. This requires a comprehensive insurance compliance framework, coupled with seamlessly integrated technology that covers all aspects of your insurance operations. This is precisely where our unified Harmoney platform's modular approach shines.

Why Harmoney?

Built-in automated compliance

The platform automatically prompts customers to update their information and caters for continuous AML risk screening.

Comprehensive customer overview

Pull in KYC and CDD information via external data sources or optical character recognition (OCR) technology for complete, error-free customer data.

In-depth insights

Speed up your onboarding flows and get better insight into every customer, for effective risk management.

Complete audit trail

Transparent case management system allows easy access to centralised data by both front office and compliance teams.

Avoiding repetitive actions

Your customer enters identification information only once – avoiding confusion, inefficiency, and needlessly repeated steps.

Multichannel approach

Harmoney enhances the interaction between end clients and relationship managers, supporting every channel of communication, digital or analogue, in full compliance with all the regulatory processes.


Build your future-proof, scalable InsurTech platform

Ensuring full compliance for insurance companies involves building an ecosystem that is auditable, risk-proof and ready for future legislative changes. Guided by their insurance compliance framework and associated embedded compliance mindset, forward-thinking insurers opt for an insurtech solution that is scalable and flexible, while meeting all regulatory standards. Addressing the classic regulatory challenges that technology poses, the Harmoney platform is a fully compliant InsurTech solution that combines insurance compliance with end customer convenience and efficiency for both front and back-office teams.

Comprehensive platform to keep up with drivers for change

Using Harmoney as their overarching compliance platform, leading insurance organisations improve their regulatory compliance. Harmoney helps to anticipate the three main business drivers for change that affect insurance compliance frameworks:

Regulatory pressure

A combination of ever-evolving EU and national legislation forces insurers and brokers to mitigate possible data and insurance compliance issues. Our Harmoney platform facilitates data exchange between your front-office and end clients to bring peace of mind.

Workload and cost reduction

Using our comprehensive platform, your compliance teams are able to focus on what matters, while repetitive manual processes are eliminated.

Stringent requirements for online-based insurance products

Insurance-based products that require real-time compliance evaluation of end clients and traceable product information flows can rely on the Harmoney platform to offer end customers a seamless experience and fully compliant workflows.

Find out more about how Harmoney became a strategic partner within the Baloise onboarding process

Baloise testimonial Harmoney EN