Managing risk in a robust way

Over the past 12 years, Sandra Borg, owner and managing director of Konforma Ltd, has steadily expanded her own competence and knowledge of corporate governance, compliance and risk management. She explained that this development aligned with the industry’s increasing emphasis on robust risk management practices and compliance frameworks.

Picture: Sandra Borg, Owner and Managing Director, Konforma Ltd

For those who don’t know your company, can you provide some background?

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.

Can you share a little-known fact about your company?

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.

What are you currently working on and what are your company’s plans and strategic priorities for the coming years?

We have set clear and articulated goals for Konforma’s growth and development.

  1. Expanding our client base within the insurance industry in Malta. We aspire to be role models in the industry for high standards of professionalism, ethics and best practice. We are committed to providing excellent service to clients and ensuring added value as a central tenet of customer-centricity.
  2. Encouraging the growth of the staff complement by creating an environment that fosters professional growth, job satisfaction and prioritises the well-being of staff.

This approach is likely to enhance client satisfaction, contribute to positive word-of-mouth referrals, and support the overall growth of the business.

Are there any projects/achievements of your company that you are exceptionally proud of?

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.

What in your opinion makes Malta an effective jurisdiction to set up a business?

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:

  1. Strategic location: Malta’s strategic location in the heart of the Mediterranean is advantageous for businesses looking to establish a presence in Europe. The country’s geographical position facilitates accessibility and connectivity.
  2. Official Language – English: The fact that English is one of Malta’s official languages is a significant advantage. English is widely used in international business, commerce and finance, making Malta an appealing destination for companies that prioritise a language commonly spoken in global business interactions.
  3. Workforce: Malta boasts a hardworking and highly qualified workforce. The country has invested in education and training programs, producing a skilled labour pool across various industries. The availability of well-educated and skilled professionals enhances the business environment, providing companies with access to a competent workforce that can contribute to the success and growth of their operations.
What kind of people/companies in the financial services community would you want to connect with?

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.