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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.  

F5 Complete audit and start any mandatory remediation work likely to be required to obtain APP insurance cover

F6  Complete online application APP insurance Application form

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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 and all documents uploaded

F7 Agree with Elmore that your loss data is complete and of sufficient quality for underwriters to offer quotation

F8 Review lead internal survey document

 

  F8a Complete participant information.​ Return the information to your GSC lead contact

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  F8b Review participant briefing

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  F8c Complete audit and start any mandatory remediation work likely to be required to obtain APP insurance cover

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  F8d Final external auditor report with comments received 

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  F8e Call with GSC team to discuss the report 

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  F8f Management comments to be added and final report submitted to underwriters

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  F8g Maturity Index scale 

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

F11 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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