STEP TWO : PORTFOLIO MONITORING AND POST-CLAIM SUPPORT
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It should be noted that both commentators still expect a degree of physical auditing to persist . However , this will be complemented and enhanced by automation .
STEP TWO : PORTFOLIO MONITORING AND POST-CLAIM SUPPORT
Key solution : close collaboration with regtechs A central characteristic of threats to security and compliance is their volatility ; risk assessment must be an ever-changing process if it is to retain accuracy , credibility or value . AI and automation can certainly assist in keeping knowledge of risk points up-to-date , but the benefits of close collaboration between insurers / insurtechs and regtechs cannot be overstated .
“ These companies [ regtechs ] can automatically assess regulation and compliance during the acquisition and policyholder monitoring phases against existing and emerging standards . This is crucial as compliance adherence is also becoming a mandatory condition of business outside
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