When it comes to insurance, customers are resentful about paying for a service that they might never need. The perception that the insurance process is by default designed to avoid paying out claims, as well as the overall ambiguity in the purchase process is a persisting burden on insurance providers.
While the industry seems to struggle to keep up with the pace of change compared to the banking and finance industry, that doesn’t mean that there’s nothing going on. Many companies are increasingly exploring the latest technological innovation they can use to augment the value of their service and change the consumers’ perception of insurance.
There are different approaches to tackling the challenge, but the solution lies in combining various tech solutions. As part of a seamlessly integrated process, together they can make the insurance purchase a pleasant experience and deliver real value for parties on both sides of the purchase.
This is the part where Microblink steps in. We’re dedicated to developing technology that eliminates the strenuous steps and time-consuming tasks and reduces the noise in the customer journey.
For insurance providers, our solutions save significant time and cost. By enabling users to input relevant data themselves via a mobile or web platform creates an efficient information flow. What’s more, instead of typing, users can fill a claim form with a mobile camera, that is by scanning the required information on their ID card, driver’s license, VIN (vehicle identification number), or health care card. When combined with corresponding data management systems, this feature can generate efficiency on a large scale. Also, data input is completely secure as all our data extraction tools work offline and on-device.
These benefits, of course, extend to the end customers as well. By reducing the parts in insurance purchases that take up a lot of time, but overall don’t bear the highest value in the whole process, the users’ focus is directed towards the most crucial parts in the process.
In simpler terms, we spare you the boring stuff and allow more space for a user experience that informs, educates, empowers, and ultimately, establishes trust. And that’s important because the more accurately informed and protected customers are, they're more likely to make recommendations, and eventually come to understand the whole insurance experience as an important factor in evaluating insurance options, next to the price.
Have we sparked your curiosity?
We hope you found our insight into digital onboarding useful. If you’d like to find out more about the use cases of our technology in insurance, or would like to share your thoughts or questions on the topic, feel free to get in touch with us below.
BlinkID product featured in this blog, as well as all Microblink solutions, are all available for you to try completely free.