ClauseMatch moves into InsurTech following pilot at Lloyd’s Lab
15th July 2019
L39 member ClauseMatch has presented the results of its pilot project as part of Lloyd’s Lab second cohort and has moved into the InsurTech space.
The pilot was created in collaboration with four mentor firms from the Lloyd’s Lab – running to analyse the current state of the Lloyd’s market.
During the 10-week programme Clausematch powered significant cost reductions in the areas of risks and compliance, as well as improved corporate governance and oversight.
The pilot:
- Reduced the time it took to refresh corporate policies and procedures, to ensure all documentation is up-to-date
- Automatically cascaded regulatory changes through the hierarchy of governance documentation
- Used machine learning and artificial intelligence to improve readability and policy adherence
- Published documentation across the business, and tracked policy readership, attestation and adherence
- Tracked ownership and responsibilities based on senior management functions
- Generated market intelligence reporting for management, auditors and regulators on the status of governance documentation and firms’ compliance in real-time
To find out more about Clausematch – visit their site here
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