Regulatory Technology (RegTech)
ACORD Solutions Group Launches Automated Sanctions Screening Service For Faster, More Accurate Insurance Compliance Processes
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ACORD Transcriber's AI-enabled Sanctions Screening service eliminates the complicated, time-intensive manual process of checking for sanctioned individuals and entities
NEW YORK, Oct. 14, 2025 /PRNewswire/ -- ACORD Solutions Group today announced newly expanded features for automated sanctions screening in ACORD Transcriber, the leading solution for intelligent document processing in the insurance industry. The new Sanctions Screening service extracts key data from insurance documents and automatically sends it to LexisNexis—or a client's sanctions screening company of choice—for real-time checks, solving the efficiency and accuracy issues organizations often face during this process.
Sanctions screening is a crucial process in the highly regulated insurance industry, but it has historically been time-consuming, manual, and prone to errors. These errors and oversights not only result in substantial fines and penalties, but also have the potential to cause long-term reputational harm to organizations.
ACORD Transcriber's Sanctions Screening service automates the extraction and verification of names and locations from PDFs, Excel files, and any other structured or unstructured documents, dynamically mapping them to avoid false positives and significantly reduce the risk of missing sanctioned individuals and entities. Direct integration with sanctions screening companies also ensures access to the most comprehensive and widely trusted databases.
"ACORD Transcriber's AI-enabled data extraction capabilities save days of manual effort, reducing compliance processes to a matter of minutes," said Chris Newman, CEO of ACORD Solutions Group. "This gives insurance organizations the freedom and peace of mind to focus their talent and attention on more important strategic initiatives."
About ACORD Solutions Group
ACORD Solutions Group was created to solve critical industry challenges by delivering next-generation digital solutions and services. Our enterprise-class solutions optimize the speed, cost, and accuracy of data exchange, connecting stakeholders regardless of geography, role, and legacy constraints. ACORD Solutions Group is an extension of ACORD, the standards-setting body for the global insurance industry. Learn more at www.acordsolutions.com.
Contact: Beth Jarecki
Omnia Paratus
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SOURCE ACORD
Frequently Asked Questions
What is ACORD Transcriber's Sanctions Screening service?
It's an AI-enabled service that automates the extraction and verification of names and locations from insurance documents against sanctions lists.
How does it improve compliance?
By automating the process, it reduces manual errors, speeds up screening, and ensures access to comprehensive databases, minimizing risk and potential fines.
What types of documents can it process?
It can process PDFs, Excel files, and other structured or unstructured documents.
First published on Tue, Oct 14, 2025
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