Headquaters: South Africa
- Founded in 1918
- South African financial services group
- South Africa's largest short-term insurer
- Johannesburg Stock Exchange listed
Phinity Risk Solutions
The Phinity Risk Solutions platform integrates into your risk and compliance processes to help you decrease your risk exposure. Boost your risk management capability and manage your organisational risks, from identification through to remediation with the help of our powerful solutions. Make informed decisions faster with our strong and relevant reporting based on your risk and compliance data.
Broker compliance requires each insurer to assess all brokers through an ongoing detailed assessment process. Santam needed to calculate the compliance risks, track treatments, and provide a level of assurance to the industry body. The team also wanted to keep the board informed of current compliance levels.
A manual approach was insufficient, given the number of Brokers, time available and project requirements. Santam needed to expand, automate, and grow their risk management capability to meet changing industry compliance and business expectations.
Phinity supplied the much-needed digitization, automation, and workflow capabilities to enable the Santam team to manage risks more effectively and meet compliance and regulatory requirements in time. The level of transparency and insights Phinity provided changed the risk posture of Santam’s outsource business, and the team is confident that this will improve the business relationships.