ATLANTA, March 21, 2024 /PRNewswire/ -- Cogitate announces its new partnership with sanctions.io, a cost-effective solution for real-time anti-money laundering and sanctions screening. Cogitate has integrated sanctions.io with DigitalEdge Policy to automate identity verification and meet anti-money laundering and sanctions compliance for its newest professional liability implementation.
This partnership streamlines a critical component of the underwriting process, which has become increasingly complex due to recent world events. The rapid growth in sanctions, and explosive fines for noncompliance, necessitates a new level of due diligence, which Cogitate and sanctions.io are making simple and affordable.
"Together, Cogitate and sanctions.io are delivering a new level of peace of mind within the underwriting workbench by automating hard blocks on submissions flagged for sanctions. Data integrations like sanctions.io are contributing to the speed with which underwriters are accurately evaluating and pricing risks on our platform," shares Arvind Kaushal, CEO of Cogitate.
"We're thrilled to announce our partnership and integration with Cogitate. Anti-money laundering and sanctions compliance are more critical than ever for the insurance sector. With regulatory penalties on the rise and sanctions reaching unprecedented levels, our collaboration aims to provide insurance carriers, MGAs, and wholesalers with the real-time screening solutions they need to mitigate the risk of noncompliance effectively," explains Thorsten J. Gorny, CEO of sanctions.io.
About sanctions.io
sanctions.io is your go-to solution for anti-money laundering and sanctions screening. Our platform offers simplicity, reliability, and cost-effectiveness, ensuring hassle-free compliance for businesses of all sizes. AI-powered and backed by an enterprise-grade API boasting 99.995+% uptime, we are trusted by over 200 organizations worldwide. For more information, please visit www.sanctions.io.
About Cogitate
The Cogitate DigitalEdge Insurance Platform digitalizes insurance across the value chain, offering insurance carriers, MGAs, wholesale brokers, and program managers a smooth transition to cloud-native, data-driven core underwriting, policy, billing, and claim applications. The unified insurance platform unlocks the value of first-party data and advances the power of third-party data for profitable growth, superior risk selection, and a streamlined, modern user experience.
Backed by more than 100 combined years of comprehensive experience and domain knowledge, our products are uniquely designed to meet the needs of insurance businesses of every size. Find out how Cogitate maintains 100% client retention at www.cogitate.us.
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SOURCE Cogitate
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