German insurer taps IDnow for biometric remote customer onboarding
German insurance company Provinzial NordWest Group has chosen IDnow to provide biometric video identification for digital onboarding to attract younger, digitally-savvy customers and increase conversion rates.
IDnow’s EU-patented video identification solution VideoIdent is fully integrated as a digital onboarding component for secure customer verification that combines artificial intelligence and Ident specialists. Customers can use any webcam-equipped computer, smartphone or tablet and a valid ID document for identification that meets all Money Laundering Act, data protection, and BaFin regulatory requirements.
“It was particularly important to us to integrate the solution quickly and flexibly in our new digital finishing process,” explains Christian Schäfer, Portfolio Manager of the digitization initiative PNWneXt at Provinzial NordWest.
“We compared in detail the available online insurance providers. After an intensive test phase IDnow prevailed. We were particularly impressed by the high level of security of the technology and the excellent customer experience.”
The IDnow transmission interface enables easy integration in Provinzial NordWest business processes, enabling it to launch its new digital disability insurance products and meet customer requirements for quality, safety, and speed, according to the announcement. Shäfer also says IDnow may eventually be used to support other processes, such as direct onboarding in the company’s customer portal.
“We are proud to support the Provinzial NordWest Group in its step into digital onboarding. To become a pioneer in the digital age, it is essential for insurance companies to leverage technologies to enhance the customer experience,” says IDnow Chief Product Officer Vikas Seth. “Young people in particular want a straightforward process, and our experience of recent years has shown Digital sign-on solutions enable businesses to make their onboarding processes much faster and more convenient, which directly pays off for our customers through significantly increased conversions and faster growth.”
IDnow appointed a new CEO and CFO in May to bring its cloud identification services to new markets.