Providing digital self-service customer onboarding, authentication, and electronic signing solutions to help insurance companies manage the full digital customer engagement lifecycle—for both personal and business customers.
In the insurance industry, digital has become synonymous with customer centricity. This applies to acquiring and onboarding new customers, as well as serving them throughout the customer lifecycle.
While insurance companies invest money in digital transformation, their attempts to ensure a smooth onboarding fall short. This is because compliance - Anti-Money Laundering (AML) and Know Your Customer (KYC) in particular - has taken an important role in various workflows, for example during customer enrollment or before a claim is paid out. It's no surprise that consumers say insurance applications are more complicated and time-consuming to complete than for example banking or credit card applications.
A strategic approach to verifying will improve the speed, quality and security of onboarding. Onboarding customers in digital channels while ensuring compliance is possible with the help of Signicat's identity verification offering, which leverages an existing network of verified electronic identities, as well as partners that provide identity verification by scanning ID documents. By utilizing the same method, integrating identity verification in electronic signing will enable your organization to digitalize contract signing, as well as comply with requirements for consent signatures.
Aegon, a major Dutch insurance company, managed to reduce customer onboarding times from 4 days to 30 seconds, and saved 2400kg of paper in their first year through the use of the Signicat platform.
We support over 25 electronic identity schemes (eIDs) from across Europe, plus numerous registry lookup databases, and multiple 3rd party identity verification technologies (such as OnFido) and even social logins. Our open API means we can add additional attributes, schemes and lookups depending on your requirements.
A streamlined but secure electronic signing process ensures you can quickly secure agreements and consent from your customers. We can help you set the right level of assurance around securing these agreements by requiring different levels of validation before a document is officially signed.
MobileID, our mobile authentication solution ensures you remain PSD2 SCA compliant while providing a seamless and user-friendly authentication experience for mobile banking. We also provide additional authentication options such as our own identity provisioning, integrating with existing IAM solutions, or using eIDs for authentication.
When signing agreements with businesses, you need to ensure the person you are engaging with has the mandate to execute the agreement. We can help you craft a process to validate the user is an approved signatory for the business, and build a signing process that ensures the right level (and number) of signatures are procured from the customer.