Industries
AI-led internal audit and SOX testing for banks and insurers
IRA, IRAME's AI auditor, tests bank and insurer controls on every record, with evidence an auditor or examiner can re-perform.
Used by internal audit and finance teams at
IRAME tests each of these on every transaction. Here is what a failure looks like.
Claims leakage
Commissions
Customer due diligence
User access and segregation of duties
Suspense accounts
Vendor and outsourcing payments
Premium refunds
Manual journals
What each failure looks like
- Claims leakage
- A claim is paid on a policy that had lapsed.
- Commissions
- An agent is paid commission on a policy canceled in the free-look period.
- Customer due diligence
- An account is opened with expired identity documents.
- User access and segregation of duties
- The same user creates and approves a payment.
- Suspense accounts
- Old items sit in a suspense account with no owner.
- Vendor and outsourcing payments
- A vendor is paid above the contract rate.
- Premium refunds
- A refund goes to an account that does not belong to the policyholder.
- Manual journals
- Manual journals are posted at quarter end by users outside finance.
Each one runs on the same control library. Each exception goes to an owner in Action Hub.
We have not published a customer story for banking and insurance yet.
Write to sales@irame.ai to ask for a reference.
Each line is a plain summary. It is not legal advice.
| Region | Rule | What it asks |
|---|---|---|
| US | SOX 404 | Listed banks and insurers assess ICFR every year. |
| NAIC Model Audit Rule | Larger insurers report on internal control over financial reporting. | |
| GLBA | Financial institutions must protect customers' personal financial information. | |
| Bank Secrecy Act | Banks must keep anti-money laundering controls. | |
| GCC | SAMA | Sets governance, internal audit and cyber rules for Saudi banks and insurers. |
| Central Bank of the UAE | Sets governance and control rules for UAE banks and insurers. | |
| India | RBI risk-based internal audit | Banks and many NBFCs must run risk-based internal audit. |
| RBI KYC Master Direction | Sets customer due diligence rules for regulated entities. | |
| IRDAI | Sets governance and claims rules for insurers. |
More on each region: IRAME in the United States and IRAME in the GCC.
Can IRAME run inside our environment?
Yes. IRAME runs in IRAME's cloud in any region, in your own cloud tenancy, or on-premise with on-premise AI models. Customer data never trains a model. IRAME holds SOC 2 Type II and ISO/IEC 27001:2022, with independent VAPT.
Can IRAME support NAIC Model Audit Rule testing?
IRA tests insurers' ICFR key controls on the full population where the data allows, with evidence your auditor can re-perform. IRAME does not give regulatory advice.
Does IRAME test user access and segregation of duties?
Yes. Ready access checks test who can create, approve and post the same transaction. IRA routes each conflict to an owner in Action Hub.
Can we speak to a customer in our industry?
Yes. IRAME can share a reference in your industry on request. Write to sales@irame.ai.
Stop sampling. Let IRA test everything.
Bring one process. In 30 minutes we show you the exceptions IRA finds and the evidence behind each one.