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Customer process to get APP insurance 

Fast Track Route​​

F1 - Read all information on following links: APP fraud reimbursement insurance e-guide and SD20 requirements 

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F2 - Book initial meeting (Elmore & Green Swan)​.Ideally your MLRO and APP Insurance leads should attend

F3 Enter your signature details here​ for the Mutual NDA​ Download here. (NDA will be issued via DocuSign by Elmore)​

F4 Purchase and reserve your RAaaS APP survey - for qualifying institutions there is currently a 100% discount code for completed participant APP surveys taken before the 7th October 2024*. Your bespoke code will be issued following your introduction call.  

 

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  • Call with GSC team to discuss the report 

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  • Management comments to be added and final report submitted to underwriters

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F5 Complete both the APP audit and the online Insurance Application form and submit both for review

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To help you work through the audit before completing online we have created a word document to print out here

 

Please note that final submissions MUST be completed via the online form 

F6 Call with Elmore & Green Swan to go through the audit and application form results and agree next steps 

F7 On successful next steps you will need to provide your loss data using the below templates:

Loss Data 1

Loss Data 2

F8 Submit loss data and agree with Elmore and Green Swan all information is complete ready for application 

F9 Recieve final quotation and key policy limits with policy T&C

F10 Sign Policy documents and commence APP cover

RAaaS disclaimer
*The 100% RAaaS APP Survey discount code is valid for all submitted participant information until 7th October 2024 and is only available to qualifying institutions.  Information uploaded after this date will be subject to a charge if the application is to proceed.
By proceeding you agree to the Terms of Service and the Privacy Policy
Booster packs and external audit services may be subject to additional Terms and Conditions

Support notes for APP RAaaS Application

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We recommend you allow 60 days from starting the application process to your policy commencing, although the process can be completed quicker than this if all the required information is available. Due to the variability and complexity of the organisations identified by the PSR under Special Directive 20 (SD20) it may take some organisations longer.

 

There is no guarantee that the underwriters will offer cover to all SD20 organisations or at the level of cover that is requested. 

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Key factors that will influence the speed at which you are able to get APP insurance quote include:

(i) speed and accuracy you are able to get (3 years) of historic loss and fraud data in the format required by the underwriters

(ii) speed and accuracy that you are able to complete the APP insurance application form

(iii) the timescales in which you can commence the APP RAaaS eligibility audit 

(iv) timescales you may need to remedy any mandatory items required by the underwriters from the APP eligibility audit

(v) timescales required for the underwriters to review your application and the policy terms including items such as risk assessments and data reporting items and further reviews of your organisation's finalised policies, processes, and controls.    

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