From identity verification to signature: purchasing insurance policies with Trustcloud

With a specific service, Branddocs makes it easy to acquire any type of insurance. 

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etting an insurance policy is often a hassle for the user. Life insurance, car insurance, health insurance, civil liability insurance… The offer is endless and deciding which insurance policy suits each need and profile is not an easy task. Before taking out a policy, consumers must consider all the factors that will inevitably form part of the contract, especially the following: 

• The details of the parties involved in the agreement: beneficiary and insurer. In certain cases, as in life insurance, the insured may be other people in addition to the main beneficiary. 
• The interest to be insured, which may be tangible or intangible. 
• The insurance coverage: the risks for which the insurer is responsible must be feasible and quantifiable. 
• The compensations to be granted by the insurer in the event of a situation reflected in the coverages. 
• The policy renewal premium. 
• The duration of the contract. 
• The exclusions: everything that the policy does not cover. 

Despite the initial hurdles, there is a growing awareness of the convenience of contracting with an insurer. Old myths such as insurance being an “old people’s business” are becoming increasingly obsolete. The insurance sector has a high penetration both in Europe, where 36% of its inhabitants have taken out some kind of policy, and in North America, where the percentage of policyholders is close to 30%. In Spain alone there are 200 different insurance companies and around 22 million people have got a funeral insurance policy. 

The Branddocs platform has launched a solution that, in just 10 minutes, resolves the procedure of verifying the identity of the interested party and the signing of an insurance policy, a service with a solid and specific design. This assistance service integrates the verification of the user’s identity through the analysis of their image and official documentation. From there, the conditions that will make up the contract are generated and once approved, the policy is finalized. 

The operation is carried out from any device, electronically and in one single process. In addition to the obvious time savings, users benefit from the solidity of a system that does not require them to make multiple requests or send documentation. The chances of fraud are reduced to a minimum. 

As it is one of the sectors where the identity of consumers acquires a more critical aspect, insurance is a major industry that finds a more than remarkable application in the qualified verification technology of Branddocs KYC. Assessing its suitability and level of risk is key to establishing a transparent relationship and avoiding future conflicts.