Member Spotlight – Konforma
by FinanceMalta
11th March 2024
Picture: Sandra Borg, Owner and Managing Director, Konforma Ltd
Konforma has been focussing on providing a specialised compliance framework for licensed insurance entities, specifically targeting insurance intermediaries in Malta.
The business strategy has been evolving over the past four years with a thoughtful and strategic approach to the company’s development. We have been adapting to market dynamics and incorporating lessons learned along the way.
The emphasis has been on providing a seamless and efficient compliance framework tailored to the size and complexity of insurance intermediaries. Compliance is a significant aspect of the financial services industry, and a well-designed framework can help entities navigate regulatory requirements effectively.
Additionally, considering the focus on the Maltese market, Konforma remains abreast of the regulatory landscape in Malta and adapts its services accordingly.
Overall, Konforma is positioned to make a positive impact in the insurance industry by providing tailored compliance solutions.
Konforma is built on the foundation of like-minded individuals who share a common belief in compliance not just as a regulatory requirement but as best practice. Emphasizing the importance of a robust compliance culture aligns with contemporary approaches to governance and risk management.
The emphasis on working collaboratively with staff, management and board members towards a healthy compliance culture is a key element. This approach recognises that compliance is not only a set of rules to be followed but a mindset that permeates throughout the organisation. It implies a commitment to ethical conduct, transparency and accountability at all levels.
We have set clear and articulated goals for Konforma’s growth and development.
This approach is likely to enhance client satisfaction, contribute to positive word-of-mouth referrals, and support the overall growth of the business.
Konforma’s success in facilitating new licence applications and supporting Boards in adhering to licence conditions, especially within a short timeframe, is one of the highlights. This achievement suggests a high level of efficiency, expertise and responsiveness in navigating regulatory processes and requirements.
My opinion on what makes Malta an effective jurisdiction for setting up a business aligns with the key factors below that contribute to its attractiveness for international companies:
I am open to connect with anyone whether interested in our service or not. I am a strong believer that knowledge is not finite but expands through sharing. By actively participating in knowledge exchange, we contribute to the collective growth and advancement of the industry. In today’s interconnected and dynamic business environment, building relationships beyond immediate business transactions is often considered a valuable strategy.
Sandra’s background in the insurance industry, spanning almost 30 years, showcases her journey from underwriter to insurance broker and insurance manager overseeing captives, insurance companies and PCCs.
This diverse experience gave her insight into different facets of the industry, in roles that involved managing entities with varying complexities and navigating the regulatory landscapes of different regions.
Sandra is an Associate of the Chartered Insurance Institute and holds an MBA from Henley in the UK as well as a Diploma in financial services operations and compliance.