AML fraud flags Best practices for insurers

December 18, 2018

Insurers should keep an eye out for these red flags to remain in compliance with anti-money laundering (AML) rules and regulations. Sales involving. Unusually large single premiums, or a series of large premium payments. Unusual payment methods, such as cash, cash equivalents, or structured monetary instruments. Excessive transactions or early surrenders.

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IUA

IUA was established in 1997 on a foundation of sound industry knowledge and customer service. Our team of underwriters work closely together to ensure your needs are met quickly, efficiently and with a smile. Our key underwriters have in excess of 30 years’ experience in the industry and the expertise to assist you with your needs.

Other Infographics
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Professional Indemnity Insurance Explained

Infographic | December 17, 2019

All too often, the same question is asked. What is Professional Indemnity Insurance? Given how many professionals work in Australia, it’s benefits should be more well known. In this infographic, professional Indemnity Insurance is explained simply and easily so you can get the most out of your business insurance.

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Insurance Marketing Statistics, You Should Know to Begin!

Infographic | June 7, 2022

These statistics reveal how other insurance marketers are approaching the prospect of a successful business sphere. Consumers’ Journey Begins With an Online Search: 69% of insurance customers conduct research before making an appointment with a business, Over 50% of insurance customers conduct their research on mobile devices and 68% of consumers remain ignorant of businesses based on their requirements. This lets insurers convert such indecisive customers through relevant marketing campaigns

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WHY CUSTOMER EXPERIENCE MATTERS FOR INSURANCE COMPANIES

Infographic | February 25, 2020

Customer experience (CX) has risen to a new level of importance in the insurance industry. Sure, customers still value price — but it’s not the only consideration. They also want a brand that builds trust and shows they care about their customers. In fact, a recent study by Accenture found that 46% of insurance respondents are "Quality Seekers.” These customers value superior service, automated transactions and personalization.

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Insurers and Consumers in Covid-19 Markets: Too Many Missed Connections

Infographic | April 14, 2021

Although the covid19 spread and the subsequent lockdown imposed will adversely impact the life insurers business in the short term, but with likely a change in consumer behavior and rise in demand for pure protection products given the uncertaninties, the medium term to long term impact may turn out to be positive for them. Insurers can do more to retain customers who are looking to switch providers.

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5 Challenges in AI implementation for Insurers

Infographic | January 16, 2020

AI can improve productivity and help in decision making through training datasets. According to the survey of the Dataconomy, nearly 81% of 225 data scientists found the process of AI training more difficult than expected even with the data they had. Around 76% were struggling to label and interpret the training data.

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10 Disruptive Trends That Are Impacting The Insurance Industry

Infographic | February 3, 2020

10 Disruptive Trends That Are Impacting The Insurance Industry: As we move into a new decade, several risk trends are starting to emerge that could potentially disrupt the insurance industry.

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Spotlight

IUA

IUA was established in 1997 on a foundation of sound industry knowledge and customer service. Our team of underwriters work closely together to ensure your needs are met quickly, efficiently and with a smile. Our key underwriters have in excess of 30 years’ experience in the industry and the expertise to assist you with your needs.

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