Case Study: a global insurance broker and risk management firm screens 5,000 corporate clients for UBOs with Concentrix Catalyst

Global Insurance Broker and Risk Management Firm screens 5,000 clients in under 6 months with Concentrix Catalyst

A global insurance broker and risk management firm faced the challenge of screening its 5,000 corporate clients to identify Ultimate Beneficial Owners (UBOs) in order to meet regulatory compliance and mitigate risk. They needed a streamlined way to collect UBO information, screen it against sanctions lists, and manage alerts. The firm selected Concentrix Catalyst for its KYC platform and financial crime expertise to implement a solution.

Concentrix Catalyst developed a multi-channel communication plan and a secure client portal to collect and authenticate UBO documentation. They implemented a tiered outreach strategy and used a leading PEP and sanctions screening solution to process the data. This approach allowed the client to successfully screen 5,000 customers, investigate 600 alerts, and complete the entire program in under six months, significantly de-risking their client portfolio.