Customers of insurance companies expect a seamless digital journey.
According to a report by Bain, most consumers need a simple way to access their account in order to use the service.
Insurance companies also collect sensitive consumer data, which puts pressure on them to do this in a secure way while protecting customers from identity theft and fraud.
Criipto’s electronic identity verification solution helps insurance companies provide seamless and secure user experiences. This lets them stay competitive and grow their business.
Why do you need an eID authentication solution?
Here are three reasons why insurance companies should consider using eIDs.
1. Improved user experience
Consumers demand a smooth user experience.
Current behavior trends indicate that richer digital experiences are more important than price and other factors when choosing an insurance provider. User experience is also the most important aspect in building customer loyalty, making it vital in retaining customers.
eIDs successfully streamline the user experience, leading to:
- Faster, easier, more frictionless logins
- Simplified onboarding for sustainable business growth
- Increased customer satisfaction for improved loyalty and retention
This is why insurance companies can gain a lot by implementing eID verification.
2. Streamlined document signing
Most insurance companies require their customers to sign documents such as policies, certificates, and contracts.
Traditionally, this was done manually by printing, signing, scanning, and sending documents back and forth. This process is extremely time consuming and complicated, which may lead customers to abandon it altogether.
Criipto’s eID signature integration streamlines this workflow and makes it digital. All steps take place online, where customers can sign documents with their personal eID.
The main benefits of an eID signature workflow are:
- Cheaper and faster signing of documents
- Higher completion rate of signed documents
- Enhanced security
3. Upgraded security
Insurance companies gather a lot of sensitive data and information from their customers.
To make customers feel safe and comply with industry regulations, this information must be properly protected.
eID verification is the safest way to authenticate customers, as it ensures their identities are validated.
By implementing eIDs in the login process, insurance companies can:
- Become KYC compliant
- Securely verify their customers’ identities
- Reduce the risk of identity fraud
Criipto: Trusted by security companies
Criipto has been providing insurance companies like Trygg-Hansa, Alka and CODAN with secure and efficient identity solutions for several years.
Every month, millions of identities are verified through Criipto, letting people safely register, log in, and sign documents.
Read our customer story about CODAN.
