AML and KYC Compliance for Insurance Brokers

Place the policy with the customer identified, screened and documented, without slowing down the sale.

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Obligated entities of the insurance sector Audit-ready evidence Screening in seconds

COX gives an insurance brokerage a due diligence file for every policyholder, payer and beneficiary: identity read from the document, sanctions and PEP screening with a certificate, a risk score by product and origin of funds, and the evidence the insurer and the supervisor ask for, ready before the policy is issued.

Where compliance hurts

The customer wants the policy today and the due diligence has to fit between the quote and the issuance
Life and savings products with a surrender value are used to place money and take it out clean
The payer of the premium is not the policyholder and nobody asked why

Each insurer asks for its own form and the same customer gets identified five times
The supervisor inspects the brokerage, not the insurer, and the file lives in emails

Who is obligated, country by country

Insurance brokers are obligated entities in most of the region, and in several countries they are financial obligated entities supervised by the insurance regulator itself: the broker knows the customer before the insurer does. Each country draws the line differently.

Panama

Law 23 of 2015 lists insurance brokers, natural and legal persons, together with agents and sales channels, among the financial obligated entities supervised by the Superintendency of Insurance and Reinsurance.

Mexico

The Insurance and Surety Institutions Law makes insurers and insurance agents responsible for identifying the customer and detecting unusual operations, under general provisions supervised by the CNSF.

Colombia

Brokerage companies are supervised by the Financial Superintendency, whose 2022 update left them outside the specific SARLAFT instructions: the insurer's system reaches the customer through the broker who places the policy.

Guatemala

Decree 15-2026 names the insurance intermediaries of the Insurance Activity Law among the obligated persons registered before the IVE.

Dominican Republic

Law 155-17 lists insurance companies, reinsurers and insurance brokers as financial obligated entities, supervised by the Superintendency of Insurance.

Venezuela

The Superintendency of Insurance Activity counts brokerage companies, brokers and agents among the regulated subjects of its rules on money laundering risk management, with a sworn declaration every year.

Thresholds and reporting deadlines change: the platform reads the ones in force for your company's regime. Confirm your status with your regulator.

Why they choose COX

Before the policy is issued

The customer receives a link, uploads the document and the file is ready while the quote is prepared. Screening takes seconds.

Policyholder, payer and beneficiary

Each party to the policy has its own file and its own screening, with the relationship between them recorded, so a premium paid by a third party does not go unnoticed.

One file for every insurer

Identify the customer once and print the due diligence report for each insurer that asks; the file is renewed when the risk level says so.

How It Works

Three steps from a new customer to a documented file

Collect

Send the customer a secure onboarding link. They upload their identity document, proof of address and source of funds from any device, and the platform reads the document for them.

Document reading and prefill
Selfie and liveness check
Beneficial owner declaration

Verify

Sanctions, PEP and restrictive lists are searched at once, adverse media on request, and the risk matrix scores the customer with the weights your policy sets.

Sanctions, PEP and watchlists
Risk matrix by country and activity
Enhanced due diligence when required

Document

Every search, decision and document stays in the file with its date and author. Print the due diligence report or the screening certificate when the regulator asks.

Immutable audit trail
Sealed PDF reports
Renewal reminders

Red flags the file has to document

A single premium or a large top-up on a life or savings policy, paid in cash or by a third party
An early surrender shortly after the policy is taken out, with no economic reason
A beneficiary with no relation to the policyholder, or one changed right before a claim
Insured assets whose value or ownership the customer cannot document
A customer who asks that the refund or the claim be paid to another person or account

What the platform gives you

Everything an insurance broker needs, without a compliance department

Identity verification

Documents read automatically, selfie with liveness check and the data proposed for the officer to confirm.

List screening

Sanctions, PEP, restrictive and open-data lists, with a certificate that says which edition of each list was consulted.

Risk matrix

Country, activity, product, channel and PEP status weighted the way your manual says, with the result explained.

Adverse media

News about the customer ranked by how surely it names the same person, never a list of homonyms.

Due diligence files

Natural and legal persons, beneficial owners, related parties, documents with expiry dates and renewal alerts.

Reports for the regulator

Due diligence report, screening certificate and training records, each sealed with a verifiable fingerprint.

Built for

Insurance brokerages

The firm responsible for the customer and its file

Independent brokers and agents

Who places policies in their own name

Insurers and reinsurers

Who underwrites the risk and answers to the supervisor

Adjusters and administrators

The other supervised roles of the insurance chain

Encrypted storage

Full audit trail

Roles per user

Six countries covered

Frequently asked questions

Where the law names the broker as an obligated entity, the broker answers for it with its own file and its own compliance officer; where it does not, the insurer's controls reach the customer through the broker. Either way the broker is the one who meets the customer, and COX keeps the file that both will ask for.

Life, savings and investment-linked policies with a surrender value: money goes in as a premium and comes out as a refund. The risk matrix weighs the product, and the file asks for the origin of the funds when the level requires it.

Yes. Each of them is a party to the policy with a file of their own, and a match on any of them is recorded with its date and the decision of the officer.

Yes. Digital onboarding sends a link; the customer uploads the identity document and the platform reads it and proposes the data. The broker only confirms what it sees.

COX charges per credit: you pay for each screening or report you run, with no monthly minimum. Monthly plans exist for brokerages with steady volume.

Ready for the next policy

Open your brokerage on COX and build the first file today.