AAAtraq recognised as a top 25 InsurTech Innovator
26 Nov 2020
AAAtraq, has been named as a top 25 InsurTech Innovator for 2020 The distinguished hall of fame is researched and created by the US magazine Technology Innovators and comprises the sectors most prestigious leaders.
In this go to list of people and companies to watch in the industry, Lawrence is listed alongside distinguished InsurTech entrepreneurs such as Daniel Schrieber, CEO of Lemonade, and Scott Welchek, CEO and Founder of Trov, to name but a few.
Researchers were impressed by AAAtraq’s ability to simplify the process for risk managers to identify the ADA compliance risk within their organisations and provide a clear pathway and timelines to demonstrate reasonable adjustment.
Lawrence Shaw, CEO of AAAtraq, has been named as a top 25 InsurTech Innovator for 2020 (opens in a new window). The distinguished hall of fame is researched and created by the US magazine Technology Innovators and comprises the sectors most prestigious leaders.
AAAtraq provides a holistic solution to the fragmented, at times complacent and difficult to navigate compliance environment by placing risk mitigation at the heart of its proposition.
“It’s one of my aims to help organizations understand the value of compliance automation, and how this helps to protect brand reputation,” said Lawrence. Organizations operating across society constantly struggle with ADA compliance (Title III), and adhering to regulations takes significant time, effort and money.
“AAAtraq was formed to simplify the process of complying with ADA regulations by automating a number of important stages in the process. This not only makes things less complicated but also helps in safeguarding against flouting regulations in the future,” he observed.
AAAtraq employs a strategic approach to handle compliance. The company’s intelligent automation simplifies understanding, maps out the pathway to compliance, and replaces uncertainty with control.
“AAAtraq automates the four cornerstones to compliance - Staff Development, Digital Supply Chain Management, Compliance Reporting and Litigation Insurance. The service instils confidence to manage ongoing compliance faster and at lower cost,” added Lawrence.
This strategic approach is about disrupting present levels of digital complacency and focus on risk mitigation starting with insurance coverage for costs, simplifying reporting for Risk Managers, overseeing the internal and external digital supply chain and provides personalized training for staff, equipping them with the knowledge of how to stay compliant.
“Risk managers need to be continually aware of the risk level faced by their organizations, so automated reporting is also critical,” added Lawrence.
Lawrence elaborated on how AAAtraq had formed a unique partnership with global insurer BRIT. “Subscribers to our service benefit from an immediate $2,500 worth of insurance cover and can eventually be covered up to $50,000. Each subscriber has their own mapped-out action plan towards achieving compliance.”
“As subscribers’ progress with their action plan, and gain AAAtraq stars, their insurance cover increases,” he added. AAAtraq identified that ADA compliance was a significant issue and every year the industry witnessed a high incidence of lawyers targeting those who fail to comply. AAAtraq is a verification service for risk managers to understand the risk to their organisations of non-compliance.
“The service is not designed for digital teams or webmasters who might resist suggestions that the digital assets they manage are noncompliant,” added Lawrence.
There is no doubt that ADA compliance is increasingly at the forefront of risk managers minds as case after case with big brand companies hit the courts in the US. The smart innovation and CEO behind this InsurTech solution is well deserving of the top 25 list.
The full digital magazine can be seen here. (opens in a new window)
It would be inconceivable to open a building that doesn’t adhere to the ADA. The same principle applies online. Currently, however, 94% of the 225 million websites in the US are non-compliant and discriminatory, leaving organizations at risk of litigation.
AAAtraq is an InsurTech solution for risk managers to identify and mitigate ADA website compliance risk. A Compliance Identification and Management Service, AAAtraq provides a strategic, principle-driven pathway to compliance without technical distractions. Our intelligence- driven automation enables organizations to understand, achieve and maintain compliance in less time and at lower cost.
Uncertainty is replaced with confidence, underpinned by legal support and $50,000 of litigation cost cover.
Interested? Watch our video to find out more.