The best customer experience for insurance with CIAM

the best customer experience for insurance, with CIAM

Digitalisation has raised many new challenges for the Insurance industry. Today’s consumers expect greater transparency along with a convenient yet secure customer experience. Most Insurance companies provide a dynamic business environment, serving consumers, businesses and agents all at once. And since most insurance companies today have been built up over years of mergers and acquisitions, they usually deal with complex IT infrastructures.

For all these reasons, implementing the right Customer Identity and Access Management (CIAM) solution is a crucial step towards helping insurance companies realise their goals and excel beyond that.

Insurance series
In this series of posts, we want to share with you some of our experiences with implementing CIAM at insurance companies across Europe. Some of the main challenges revolve around smooth onboarding of new customers, the customer experience as a whole and a proper authentication and identification process when users access online applications. Other challenges come from managing different brands within one company and managing personal data within the company and towards users.

So, how can the right CIAM solution help optimise business processes for insurance companies? To answer that question, this post will explore the following topics:

1. User Journey Orchestration
It all starts with onboarding new users with a seamless user journey that is orchestrated to the specific needs of the brand the user is signing up with.

A typical insurance company operates different brands (‘labels’) for different target audiences. So, each brand may have a different registration process tailored to its target audience.

For instance, a brand providing car insurance to young adults may have a just-in-time registration process that collects data gradually, while a brand targeting pension insurance requires a stricter process, including identity validation and Multi-Factor Authentication (MFA) capabilities.

Whichever onboarding process the brand uses, it always requires careful planning. After all, there are many factors to keep in mind. On one hand, onboarding and registration need to be smooth, providing a great customer experience. On the other hand, they must be completely secure.

Balancing convenience with security might seem challenging, especially when you deal with multiple brands and different ingress points. The best approach is to use a flexible registration flow. And not only flexible upon configuration, but flexible at all times, so the customer journey can be optimised based on real-time analytics. OneWelcome’s Customer Journey Orchestration (also for mobile apps) lets you finely tune every step in the user’s journey to ensure an optimal customer experience.

2. Frictionless User Interaction
Once a user has created an account and has access to their online insurance resources, it’s crucial that they have a seamless experience when accessing their data. That means offering ‘just-in-time, just-enough’ authentication that doesn’t intrude on the user’s journey or compromise security.

The right CIAM solution offers authentication flexibility combined with modern technologies like passwordless authentication, reauthentication, step-up and platform-independent.

3. B2B2C: Serving different user groups
Besides serving their customers, insurance companies also need to serve business users and third-party partners, like agents and brokers.

Business partners usually use a mandate model in which they assign permissions to individual users within their organisation to take care of insurance company relations. And this requires access to the insurance company infrastructure.

Similarly, agents need access to relevant applications to submit orders and mediate for their customers. Agents are a special type of user, because they have some similarities with the insurance company’s customers, but are also part of the company’s network of business partners.

You always want to empower those business users and agents, while also finding a balance between maintaining control over processes and letting these users self-service as much as possible. By delegating responsibilities and authorisations, you allow business users and agents to create and manage the users under their care.

4. Conversion – from Prospect to Customer
How can you connect with prospects at the earliest stage of the sales process? And what about prospects who are already customers of one of your company’s other labels?

OneWelcome’s CIAM solution lets you create a conversion process with validation steps for the prospect as well as identity-matching capabilities to turn prospects into customers while keeping the user’s rights in mind. It lets you embed powerful consent management capabilities throughout the various processes, so your user can decide which information they share for each processing purpose. This is essential for gaining your customers’ trust.

These are some of the main business challenges we’ve seen facing our insurance customers across Europe. This series of blog posts will dive deeper into each of these topics, also showing how OneWelcome’s CIAM solution helps your organisation offer the best user experience while also maintaining security and trust.

Read the whole series
This is part 1 of a series of 5 posts about Customer Identity and Access Management challenges in the Insurance industry.

You can read the rest of the series here:

  1. The best customer experience for Insurance, with CIAM
  2. How Insurance companies can orchestrate the best User Journeys with CIAM
  3. Passwords are the problem!
  4. B2B2C for Insurance: How to serve different user groups
  5. Conversion from prospect to customer

one solution: a million possibilities

simple and secure access to online services for European organisations