Current Situation
As the use of digital channels increases, older verification and authentication methods are no longer adequate. Insurers must implement identity verification and authentication technologies to create a digital experience that is secure and low friction to the customer and partners (agents/brokers) and in line with regulatory requirements.
Goals and Objectives
Insurance organizations must employ advanced technologies to establish digital trust with their customers and traditional (agents/brokers) as well as non-traditional (e.g., retailer, fitness clubs, etc.) partners. The technologies must be able to verify and authenticate customers and partners in digital channels in a way that is secure yet frictionless.
Technology Deployed
Hardware: Enterprise hardware
Services: SaaS
Software: Analytics and AI, application platforms (physical and behavioral biometrics, predictive analytics)
Innovation accelerators: Cognitive — machine learning
3rd Platform technologies: Big Data, analytics
Use Case Summary
Once a customer or partner has been vetted and onboarded, authenticate their digital identity at each log-in. Maintain digital trust of the identity throughout the digital session. This must be done cross-channel and irrespective of the device used.