The insurance industry is rapidly digitizing—from policy issuance to claim settlements. Whether you’re an insurer, TPA, or digital aggregator, ensuring the authenticity of policyholders, nominees, and documents is essential. As fraud grows and regulatory pressure increases (from IRDAI and FIU-IND), identity and verification solutions have become foundational for operational trust and efficiency.
Industry Challenges
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- Rising identity fraud in policy purchases and claim settlements
- Rising identity fraud in policy purchases and claim settlements
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- Inconsistent or forged documents during onboarding
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- Delays in policy issuance due to manual KYC processes
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- Regulatory need for AML compliance, especially for high-value covers
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- Difficulty in validating nominee and beneficiary details accurately
Solutions Tailored for Insurers
eKYC & Face Match for Policyholders
Validate PAN, Aadhaar, Voter ID or DL via API, Real-time face match with selfie and liveliness checks, Reduce drop-offs with mobile-optimized flows
AML Screening for High-Value Policies
Screen policyholders and nominees against PEPs, blacklists, and sanctions, Risk scoring for compliance with IRDAI & FATF norms, Continuous monitoring for policy lifecycle
Nominee & Beneficiary Verification
Cross-verify identity and bank details of nominees, Prevent impersonation or false claims, Build confidence into claim processing workflows
Bank Account Verification for Payouts
Validate account ownership before disbursing claims, Eliminate failed transfers and reduce fraud, Supports penny-drop and IFSC verification
e-Sign & e-Stamp for Policy Issuance
Secure digital execution of policy documents and disclosures, Legally valid under IT Act and accepted by IRDAI, Enhance speed and convenience for users and partners
Business Impact
- Faster onboarding with zero paperwork
- Reduced claims fraud via accurate nominee and policyholder checks
- Improved payout accuracy through verified account data
- Regulatory compliance across KYC, AML, and documentation
