Last week we held a webinar on the benefits of using iDIN for the insurer. Allard Keuter, one of the creators of iDIN, kindly joined us and provided some very interesting insights. In this blog I'll highlight some of the possibilities and issues we touched on during the webinar.
Feel free to skip the blog and head straight to the video of the webinar (in Dutch).
iDIN verifies Dutch identities online in the private sector
A company needs to check your identity when you apply for a loan, an insurance, or a mortgage. Historically, we used a passport or driver’s license to verify who you are. The downside of this method is that you need an authorized person physically present to perform the verification check. Over time the process moved online to save on costs and to make it a lot easier. The Dutch government uses DigiD to identify users for their services and in many countries there are similar initiatives. But what about the private sector? DigiD cannot be used unless you're affiliated with the government, have official approval (which is hard to obtain), or you're involved with health insurance. iDIN presents itself as the go-to solution for the private sector. With iDIN you use a Dutch bank to identify yourself. When you initially opened your bank account, you may have presented your ID card or passport to prove your identity. Therefore, if you can now log in to your bank account then it’s highly likely that you are the same person. This is exactly the same concept that iDIN uses.
How does iDIN work in the insurance scenario?
Let's say you already have insurance, but you have never received login credentials for your online account. If you go to the insurance website, you have to prove that you are the person who you claim to be. The insurance company will normally send you a letter with a registration code. This process takes at least 7 days. Here's what it would look like if the end-user had a choice in that matter using iDIN:
Which option would you choose? If you’re like most people (roughly 75%), then you'll pick the iDIN option because you don't like to wait. If you choose the iDIN option you will be presented with a screen / flow that will look something like this:
First of all, you select the bank where your account is held. Then, you log in to your bank account just as you would when making a payment. Finally, you confirm your understanding around your personal data being sent to the insurance company. This is shown in second part of the image below:
The personal data is customized and specific to what the insurance company needs to know about you. Unless they really need your gender or telephone number, you won’t see it on the overview. Finally, when you approve for your personal data to be sent, you will be redirected to the insurance company’s page. They will verify your identity based on the personal data they receive from the bank. When this is complete, you can create your online insurance account. It's that simple in an ideal scenario.
The customer journey is key
Before implementing this scenario, you want to make sure you have thought of everything. Consider the following questions in your customer journey:
- How many onboarding options do you want to provide to your customers?
- What if the personal data does not match the insurance records?
- Do you need to ask for a policy number? And if you do, where is the best place to ask for it?
- Does the customer understand the flow and the steps involved?
- Are customers getting stuck in the process and if so, how do you reach them?
- How many of your customers have a Dutch bank account?
- What does the login process look like? Will a customer need to use iDIN every time? nbsp;
If you consider iDIN for your company, feel free to reach out to us. We have years of experience in this area and can put you in the right direction.