05/12/23
Mastering Compliance: key takeaways from our round table discussion
In the world of insurance compliance, understanding the framework of reportable situations is crucial. Last week, Curium—specialist in effective…
We'd love to hear from you! Whether you have questions about our solutions, need support, or just want to learn more about how Curium can help your business, our team is here to assist you.
Game changers: How Curium helped Stella Insurance streamline compliance and connect to their
core values @Tetiana George can you please take a look
In a male dominated world, women’s insurance needs and priorities were never really consider and women remained underserved. Stella set out to change this. Stella was forged by a labour of love, along with close collaboration with their female clients and partners. And since 2019, offers competitive car, pet and travel insurance.
Although an award winning brokerage, Stella Insurance operates in a dynamic environment, managing multiple underwriters without holding their own license. However, their reliance on external partners meant a complex compliance landscape with numerous obligations stemming from various contracts. Managing these obligations without a dedicated compliance license was a constant challenge.
Curium’s intuitive interface not only simplified compliance tasks, but also sparked a crucial realisation for Stella. During a training session on customer vulnerability, Renee and her team identified a way to connect compliance to their core value proposition – supporting women’s organisations.
“Curium’s customer vulnerability training helped us see how robust compliance practices could be a differentiator for us,” Renee explains. “We realised that prioritising customer protection aligns perfectly with our mission of empowering women through partnerships with organisations that support victims of violence.”
The impact of Curium’s solution was immediate. External audits, once lengthy and stressful experiences, became smooth sailing. “Our recent QBE audit, which used to take two days, was completed in just two hours,” Renee recalls. “The auditors were impressed with our organised approach to compliance.”
Curium’s user-friendly design empowers even non-compliance specialists. “Our license holder, who isn’t a compliance expert, was able to access the Curium dashboard and complete his mandatory ASIC IDR report in a mere two minutes,” Renee shares, “He even said, ‘Of course you figured it out. I was expecting you to!’ That kind of user experience is invaluable.”
With Curium, Stella Insurance has transformed compliance from a burden into a strategic bonus. Streamlined processes, reduced audit time, and empowered employees are just some of the benefits. More importantly, they’ve found a way to connect compliance with their core mission, strengthening their brand identity and solidifying their commitment to empowering women.