E-insurance app uses FaceMe® eKYC & Fintech solution to boost security and prevent fraud
< Financial Services

E-insurance app uses FaceMe® eKYC & Fintech solution to boost security and prevent fraud

Problems and Challenges

  • Life insurance agents needed to verify new applicants' identity daily through in-person matching to their official ID photos
  • When making a change to the life insurance policy, the agent needed to get the customer's policy number and verify their identity in person with a photo ID
  • It was generating incidents such as policyholders claiming agent fraud and vice-versa
  • Paper-based processes to sign contracts were time intensive and unproductive

Solution by CyberLink

  • Life insurance agents use the FaceMe® facial recognition technology to identify policyholders 
  • After granted permission by the policyholder, the agent captures a live picture of their client, scans their ID card and compares it with data stored on the server for precise biometric identity verification
  • The agent takes a video recording that is saved on a server when the policyholder is signing a contract, giving an added layer of security in case a dispute occurs
  • The FaceMe® eKYC & Fintech solution embedded in the e-insurance app simplifies and expedites the process

The Result Highlights

A life insurance company implements FaceMe® eKYC & Fintech solution by embedding the technology into its e-insurance app, to boost security and prevent fraud. 1:1 biometric verification ensures precise identification to protect the interests and rights of policyholders as well as the insurer. Combining identify recognition and video recording of the policyholder's signature has helped life insurance agents be more accurate and effective

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