Onboarding screening
Screen policyholders, beneficiaries, and any beneficial owners against sanctions, PEP, and adverse-media data at application. Results attach to the customer record for underwriting to act on before a policy is written.
Industry solution
AML Compliance for Insurance
Screen policyholders, beneficiaries, and beneficial owners, and monitor for risk across the policy lifecycle — from underwriting through claims and payout.
Last updated
What MemberCheck covers
- Policyholder & beneficiary screening
- Beneficial ownership (KYB)
- Lifecycle & payout monitoring
- PEP & sanctions screening
- Audit-ready recordkeeping
The challenge
Why AML matters in Insurance.
Life and investment-linked insurance can be used to place, layer, and store illicit funds, which is why insurers and brokers carry AML obligations that run well beyond the point of sale. A policy can be taken out, assigned, surrendered, or paid to a beneficiary years later, and the person who benefits may not be the person who was checked at application.
That lifecycle is the hard part. Screening at onboarding is not enough when beneficiaries change, ownership sits behind a trust, or a claim directs a payout to a new party. Each of those events can introduce risk that a one-time check would miss.
MemberCheck screens policyholders, beneficiaries, and beneficial owners at application, then keeps them under review as the policy changes and screens payees before a claim or maturity is settled. Every result and decision is recorded against the policy for underwriting, claims, and audit.
How MemberCheck helps
All solutions →Built into how your team already works.
Beneficiary & beneficial ownership checks
Identify and screen the beneficiaries and, where a company or trust holds the policy, the beneficial owners behind it. This closes the gap where the policyholder is clean but the payee is not.
Lifecycle monitoring
Re-screen parties when the policy changes, such as a new beneficiary, an assignment, or a surrender request. Events that alter who benefits from the contract trigger a fresh review automatically.
Claims & payout screening
Screen payees before funds are released so a claim or maturity payout is not paid to a sanctioned or high-risk party. Findings and clearances are recorded against the claim.
Recordkeeping & audit trail
Retain screening results, risk ratings, and decisions across the life of each policy in an auditable store. Records are exportable for a regulator or internal audit.
What you need to cover
The obligations MemberCheck supports.
- Customer due diligence on policyholders and beneficiaries
- Identification of beneficial owners for corporate or trust policies
- PEP, sanctions, and watchlist screening at onboarding and ongoing
- Ongoing monitoring across the policy lifecycle
- Screening of payees before claims and maturity payouts
- Suspicious matter reporting and record keeping
1,000+
Global watchlists screened
<1s
Average screening response
24h
Watchlist refresh cycle
195
Countries covered
FAQ
Common questions.
Which insurance products carry AML obligations?
Life insurance and investment-linked products carry the strongest obligations because they can store and move value. These require customer due diligence, screening, and ongoing monitoring.
Should we screen beneficiaries as well as policyholders?
Yes. Beneficiaries and, where an entity holds the policy, beneficial owners should be screened, since a payout can go to a party who was never the applicant.
What happens when a beneficiary or policy detail changes mid-term?
Lifecycle monitoring re-screens the affected parties when a policy changes, so a new beneficiary or assignment triggers a fresh check rather than relying on the onboarding result.
Can MemberCheck screen a payee before a claim is paid?
Yes. You can screen payees at the point of claim or maturity so funds are not released to a sanctioned or high-risk party, with the clearance recorded.
See MemberCheck for Insurance.
Book a walkthrough with our compliance team and screen a real case in the first session.