AAAtraq

AAAtraq™ is a new InsureTech SaaS. Across the US ligation wasting over $1bn direct costs (many times more in indirect spend) and posing considerable risks / losses and distraction for organisations. Risk Managers are looking for services to allow them to; a) understand their risk, b) ensure they have a pathway to compliance and c) insure against the risk. AAAtraq has automated this, first digital service with digital policy which was initially recommended and now been mandated by insurance pools. The Insurance industry has been at the forefront of the COVID 19 pandemic and is facing mounting pressure over claims. COVID 19 has driven internet usage to new heights, resulting in an increased awareness of website accessibility. In the US alone, litigation costs relating to website non-compliance are estimated at cUS$1bn for 2020; this is time consuming, expensive and damages brand reputation. Digital content risk now represents a significant extension to cyber requirements and poses a real problem for risk managers as they seek to mitigate risk and minimise exposure. Digital compliance has now become a requisite component for key business processes. As a result, risk managers need services that enable them to: a) identify and understand their risk, b) ensure they have the means to achieve compliance and c) insure against the risk. AAAtraq has launched the first automated digital service linked to a digital insurance policy. AAAtraq’s automated service enables organisations to assess the current compliance status of their websites and provides a strategic, principle-driven pathway to achieving compliance with clear timescales and milestones. In addition, AAAtraq provides insurance cover to protect its clients against litigation costs. The first (sector) client to mandate AAAtraq’s services is a series of insurance pools in the US, which has recognised the cost benefits associated with the service. One single litigation case is equivalent to 25 years AAAtraq subscription. We believe that websites should be socially responsible as well as legally compliant, and compliant websites will result in reduced insurance claims.