Insurance

Insurance Platform - Use Cases

VIDA streamlines and secures the end to end insurance journey, from policy signup to claim settlement. With built-in identity verification, digital consent, and fraud prevention, users experience a seamless and compliant process at every step.

Customer Onboarding & KYC

• The user signs up for the insurance policy and provides personal details along with a government-issued ID.

• VIDA's OCR automatically extracts data from the ID for quick verification.

• KYC ensures the authenticity of the user's details, completing the onboarding process securely.

Liveness Detection & FaceMatch

• The user is prompted to take a selfie for identity verification. VIDA's Liveness Detection confirms that the user is physically present, preventing spoofing attempts with photos or videos.

• FaceMatch compares the selfie with the ID photo, ensuring a match and confirming the user's identity.

Policy Application

• The user submits details for the insurance policy application.

• They review the policy terms and provide consent.

• VIDA's Digital Signature is applied to the policy agreement for secure and legally compliant confirmation.

Premium Payment

• When paying the insurance premium, the user’s identity is authenticated using Multi-factor Authentication, ensuring the transaction is secure and legitimate.

Claim Processing

• To initiate the claim, the user verifies their identity again with Liveness Detection and a selfie.

• This process ensures the user is present and prevents fraud.

• VIDA's FaceMatch compares the new selfie to the previously stored photo, verifying identity before claim processing begins.

Claim Settlement Agreement

• The user reviews the claim settlement agreement, and Digital Signature is applied to finalize the agreement.