Stop ghost brokers in their tracks
Verify information from an identity document against multiple databases, so you can be sure that you are only onboarding genuine customers.
Verify policy adjustments
Changing details to modify a low risk policy into a high risk one during the policy term effect risk exposure. Protect your customers and your own interests by continuously reauthenticating customers with just their face.
Improving user experience
You need a license to drive, so why not use the captured data to fulfill a policy. Make sure identity verification isn’t a barrier to new sign-ups, by seamlessly onboarding your users in seconds.
Stop ghost brokers in their tracks
“Automate your fraud prevention”
As insurance moves online, the rewards outweigh the risks for ghost brokers.
Ghost brokers will buy legitimate policies using the false or stolen identities before selling them onto unsuspecting drivers who are looking for a good deal.
Drivers who buy policies from ghost brokers, often don’t realize it isn’t genuine until they need to make a claim. While the policy is invalidated, insurance companies are still liable to cover any third party costs associated with the claim. The operational overheads of investigating a false claim, closing the customer’s account, and loss of trust by the customer—all drive up the cost of doing business.
IDVerse deep learning technology is built to detect tampered documents in real-time. We also extract and verify information from a driver’s identity document against multiple databases, so you can be sure that you are only onboarding genuine customers.
Verify actions on your platforms
“Step up securely with facial biometrics”
Verification at sign-up isn’t enough anymore. Insurance providers that fail to make the move to continuous verification will be left behind. Whether an existing customer is renewing their existing insurance policy, applying for an additional insurance product, or going through the claims process—insurance providers need to ensure they are who they say they are.
It’s a fine balance—providing a smooth user experience, while protecting customers and your own interests. Insufficient verification and monitoring processes could mean anything from account takeover, to payouts for fraudulent claims.
IDVerse helps insurance providers protect their customers and their business by continuously reauthenticating them with just their face. Our remote automated verification solution is built into your existing purchase workflow.
Streamline user experience
“Why not use document information for more than KYC”
User experience is the currency of the future. User verification needs to be instant, intuitive and available anywhere, on any device. Insurance providers need to reduce friction for genuine users, without onboarding fraudsters.
When the time cost for users to switch to a new insurance provider is so high, users will walk away from a poor user experience, maybe forever. A poor user verification experience is a waste of any marketing spend.
IDVerse makes sure identity verification isn’t a barrier to new sign-ups, by securely and seamlessly onboarding your users in seconds with just their ID and a smartphone.
Enact minimum age restrictions to open an account and offer different types of account options to underage individuals.
Prevent underage gambling without deterring eligible players. Meet regulatory compliance by each geographic jurisdiction anywhere in the world.
Establish trust and safety by assuring both the person requesting a product or service and the gig worker are of legal age.
Protect users and creators from harmful content, setting a minimum age requirement for users to be able to provide valid consent.
Ensure alcohol, vapes, tobacco, and dangerous objects can be purchased online with the correct checks on age limits at checkout and again at receipt of goods.
Reduce risk and keep underage users from renting scooters, cars, properties and other high-value assets.
Obtain date of birth to conduct thorough background and credit checks – including Right To Work – in line with equal employment, opportunity, age & discrimination laws.
Create a safe and trusted space for your users and players so they can enjoy an age appropriate experience.
In order to create a one-stop digital property for multiple products – current accounts, loans, mortgages etc – to avoid in person visits to physical locations whilst meeting KYC compliance. Westpac implemented IDVerse as their identity verification process and saw application times and abandonment rates drop dramatically.
Since dealing with IDVerse, it has given me much greater security with clients I’m unable to meet in person to know that they are fully verified. The system is so easy to use and much smoother than a lot of the banks individual processes – I wish they’d all use it!
– Mortgage Choice
The transition to a fully automated identity verification process has been near seamless with user adoption being a real win for the business. Application fraud has been strongly deterred whilst keeping genuine customers content.
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