The pressure to compete is rising. Insurance providers have to get new offers to market quickly or risk being at a serious disadvantage. Despite time constraints, sacrificing security is not an option. On top of that, the majority of insurance customers are operating online. This is increasing the demands on the customer journey for online business. Because customers now expect the same level of ease and convenience when managing their insurance as they get from their private communication channels.
How can insurance companies manage to use digitalization to their advantage? How can they reduce costs, increase revenue, and simultaneously strengthen customer retention?
The sensitive personal data processed by insurance providers is valuable. That makes insurance portals especially attractive for cybercriminals. And with inadequate protection, it also makes them an easy target. But a data breach could have catastrophic consequences: loss of trust, digital offers no longer used, a severely damaged reputation, heads will roll.
Insurance portals are a challenge for developers: they have to accommodate the demands of various groups (private customers, business customers, brokers, insurance agents, internal employees, etc.) into one coherent security infrastructure. At the same time, insurance providers have very specific security demands. For example, on top of customer data, online price calculators also have to be protected against industry espionage.
In today’s world, everything is possible with just one click. And around the clock. When managing their insurance, customers expect the same norms and standards as with their private communications. Collecting bonus points to lower premiums; submitting receipts via mobile devices; effective assistance in the case of damages.
Customers expect adequate protection of their personal data. Furthermore, they place more importance than ever on the user experience. So, sacrificing user-friendliness for security, or vice-versa, is definitely not an option. Today, convenient access to digital services is mandatory, otherwise, customers will soon go elsewhere.
With Nevis, insurance providers get an agile security infrastructure and are able to accelerate the expansion of their digital offers. For example, receipts can be easily and securely submitted via smartphone. Customers can collect bonus points for minimized risk behavior. These are examples of new opportunities that insurance providers can cleverly implement for increased customer retention and satisfaction.
Easy access to digital offers is granted:
Nevis’ highly professional customer identity and access management makes the consistent use of your online channel possible. Insurance portals stand to benefit from diverse competitive advantages:
At the technical level, Nevis makes it possible for insurance providers to quickly integrate new governance-compliant services, operate them effectively, and streamline processes.
The Nevis architecture offers solution building blocks for all aspects of any modern insurance portal:
Provide quick and automated availability of the best possible security infrastructure.
«We’re able to react quickly to shifting customer needs.»
Access management in combination with identity management makes it possible to grant or revoke user access to digital data, services, and applications.
Identity management matches user identities with their respective user rights and facilitates access to the approved resources.
Passwordless authentication facilitated by tools like Face ID or fingerprints increases security and user-friendliness.
Authentication using a number of different methods increases security compared to systems with simpler password authentication.
Optimal data protection and transparency for users thanks to simple consent/rejection of terms and conditions and automatic compliance with all guidelines.
Transaction confirmation provides an additional level of security on top of authentication for things like online payments.
Anomalies in user behavior can be detected with user behavior analytics to prevent and avert unauthorized data access.
Integrated fraud detection monitors all user activities during a session and generates a risk assessment for fraud prevention.
Self-services offer users the option to manage their data and user account settings themselves.
Best-in-class companies have transformed their organization by focusing on the customer. Nevis helps you deliver an exceptional cross-channel customer experience that is more human and efficient - from the first trusted, hyper-personalized experience to a happy customer and beyond.