Our suite of products aimed at the video KYC insurance sector provide your company a cutting-edge advantage in a highly competetive industry. From background checks and verification, from pre-issuance verification with geo tagging and face recognition, insurance suite has all your needs covered.
Video KYC Solutions
* AI-Powered authentisure uses the ID and through Facial recognition makes the onboarding process authentic and dynamic.
* Facial Analysis
* Dynamic Content Delivery
* Interactivity & Data Enrichment
* Smart Document Scanning & Instant Verification
What is Video KYC ?
Video KYC is Video based Customer Identification Process wherein the submission of OVD (Officially Valid Document) like Aadhaar, PAN card , Voter ID, Passport, Driving license etc. is captured through videoeliminating the need for customers to physically visit banks & other financial institutions.
What are the Officially Valid Documents required for Video KYC?
As per the regulation no, RBI/2019-20/138 DOR.AML.BC.No.27/14.01.001/2019-20, Amendment to Master Direction (MD) on KYC, dated 09 January 2020, PAN card is mandatorily required for Video KYC. Other acceptable OVDs are as follows:
- Aadhaar card
- Voter ID
- Driving License
Is online PAN card verification possible?
Yes, verification of PAN card is possible through NSDL website by only using the keys of Regulated Entities.
Who stores the customer’s data?
Customer’s data is stored by the Regulated Entities who are performing Video KYC.
How is the customer’s data stored?
The data along with the whole audio-video journey of a customer is encrypted, compressed, bears a date/time stamp & is securely saved in Regulated Entities’ domain.
Is Aadhaar number stored by Think Analytics or any Regulated Entity?
No data is stored by Think Analytics. Moreover, our solution also redacts first 8 digits of Aadhaar number.
Is the live location of customers captured?
Yes, we have geo-tagging option to ensure that the customer is based in India during the Video KYC process.
What is the Turnaround Time (TAT) for the process?
The average TAT for the process is less than 1 minute.
What is network bandwidth required to conduct Video KYC?
The minimum speed required for our solution is 356 kbps.
What are the devices supported?
Any device with a minimum 4 megapixel camera, having an Android OS version 5.0 (lollipop) or above is supported.
What is the method of integration?
We support both SDK & API integration.Where is the solution hosted?As per the regulation, our solution will be hosted in RE’s domain.
Is concurrent audit mandatory?
Yes, as per the guidelines all accounts opened through V-CIP shall be made operational only after being subject to concurrent audit. We have a separate concurrent audit portal for Regulated Entities.
Is the solution customizable?
Yes, the solution is customizable as per requirement.
PRE-ISSUANCE VERIFICATION CALL (PIVC)
* The proposal form is often filled by the advisor leading to misselling, complaints, and litigations down the road.
* The PIVC process ensures that the customers are completely aware of the product purchased. Geo-tagging, Face Recognition, and Liveliness checks, pivc insurance are incorporated into the solution in line with IRDA norms.
* Explain the proposal to the customer in a clear & concise manner
* Explanation aided by multilingual voice, animations, and interactivity
* Captures customer’s facial data and compares it to KYC documents in real-time.
* Checks customer’s face for attention markers (e.g. Are the eyes open?)
* Verifies liveliness markers (e.g. Are the eyes blinking?)
* Geotagging of customer’s location.
* Provides insurer with a PDF transcript with page-by-page summaries.
* Personalized content for each customer in their preferred language at their preferred time and place.
* Non-Intrusive (Unlike a call Center) welcome call insurance
* Better engagement, better retention, better communication.
* Better unit economics than even the most economical call centers.
* In-depth analytics on the effectiveness of communication.
Product / Benefit lllustration Tools
* The kit can provide customers their product information in an interesting fashion complete with animation & multilingual options.
* This kit explains the product in simple terms. The kit can be incorporated with a service form, fund statement, premium certificate, or feedback form making it a complete servicing kit to reduce incoming service call volumes benefit illustration tool insurance.
Policy Renewal & Reminder
* We provide interesting audio-visuals to keep customers engaged which can lead to higher renewals and thereby increased business.
* With this tool, the customer can be provided explanations of various benefits and the implications of allowing a policy to lapse, in an effective manner policy renewal and remainder insurance.
CERTIFICATE OF EXISTENCE
Pensioners using the scheme can renew it without physically going to the bank.
DIGITAL INTERACTIVE BUSINESS CARD
*All sales processes start with a good first impression.
*This can be achieved through a futuristic digital visiting card with a voice introducing the sales person prior to the meeting.
* The card is embedded with a VCF link to save the details on the customer device and a product link which can describe the product.
Case Study : Pre-Issuance Verification for SBI Life Insurance
AuthentiSure powers SBI Life’s Pre Issuance Verification Process.
• AuthentiSure powers SBI Life’s Pre Issuance Verification Process.
• The solution has been implemented in two ways:
• As part of the Agent Application
• Direct link-based delivery to customers who apply for policies
• Total Proposals Created – 9,82,701 as on December 31, 2019
• Over 83% of proposals opened by customers/agents
• Total Premium Collected – INR 10,282,730,709 ( ₹ 1028 crores)
Explain the proposal to the customer in a clear & concise manner
Explanation aided by multilingual voice,animations and interactivity
Captures customer’s facial data and compares it to KYC documents in real-time.
Checks customer’s face for attentionmarkers (e.g. Are the eyes open?)
Verifies liveliness markers (e.g. Are the eyes blinking?)
Geotagging of customer’s location.
Provides insurer with PDF transcript with page-by-page summaries