Exclusive: Simplifya Launches Risk Mitigation Alliance, Bringing Cannabis Operators Savings On Insurance Premiums And Compliance Solutions

Simplifya, a regulatory and operational compliance software platform serving the cannabis industry, has teamed up with insurance carriers and brokers servicing the cannabis sector to launch the Risk Mitigation Alliance (“RMA”), a first-of-its-kind offering designed to help cannabis businesses more affordably manage their compliance needs and protect their licenses.

The new offering brings qualifying cannabis operators working with participating RMA insurance carriers and/or brokers to receive 70% off the cost of Simplifya’s core suite of operational and regulatory compliance solutions – paid for by participating RMA insurance carriers and brokers. Simplifya customers are also eligible to receive deep discounts on insurance premiums from RMA carriers and/or brokers at policy renewal or during new policy signup. Cannabis operators who subscribe to Simplifya and work with RMA partner insurance carriers and/or brokers are now eligible for one or more of the following benefits:

• Majority of Simplifya Services Paid For: Licensed cannabis operators who work with RMA participating insurance brokers and/or carriers are eligible to have 70% of the cost of Simplifya’s compliance solutions paid by partner carriers and brokers.

• Preferred Pricing on Insurance Premiums: Simplifya customers are eligible for deep discounts on insurance premiums from partner carriers at policy renewal or during new policy signup.

“Insurance and regtech solutions are core to any sound risk-based compliance program. With the US Department of Justice focused on individual and corporate accountability and voluntary self-disclosure on the banking front, the time has come for the cannabis industry to rethink its adoption of cloud-based-service solutions. The reality is that the benefits of implementing these risk-based compliance solutions far outweighs the cost of adoption and do not require upending or rewriting entire regulatory frameworks. We believe Risk Mitigation Alliance will drive an iterative experimental mindset that helps operators reap substantial savings, protect their largest assets and avoid costly legal fees while moving the sector forward,” Simplifya CEO and co-founder Marion Mariathasan told Benzinga.

Photo: Benzinga edit with photo by Kindel Media on Pexels