Know-Your-Customer (KYC) Solutions and Services

Helping insurance companies fulfill their KYC obligations through fast and accurate beneficial ownership KYC and person/address verifications that can be seamlessly integrated within the registration and onboarding processes.

Beneficial Ownership KYC

Insurance companies are mandated to know their customers upon onboarding and throughout the entire course of business engagement. One of the many ways to do this is to know which entities and individuals are connected to the customer based on legal corporate documents. On top of complying with regulations and knowing the profile of the customer and his network, this solution also helps insurance companies assess the financial risk and business opportunities brought upon by every customer – which customers are too big to fail or which customers have large networks that the insurance companies can pursue?

Person/Address Verification

As with other businesses, It is imperative for insurance companies to verify their clientele so as to prevent the intrusion of fraudsters into their client base. That is why SVI includes person/address verification as part of its field services, to ensure that the clients transacting with your company are legitimate. The identity of the person is confirmed with photos, videos, identification cards, electronic signature, and biometric information. On the other hand, address verification is supported with photos, videos, timestamps, and geotags taken at the time of verification. Results are transmitted in real-time to a web-based app accessible to authorized personnel of the insurer or insurance broker. These services are usually implemented as part of the risk investigation process.

Property Verification

Similar to address verification, the property inspection service of SVI enables the field personnel to document the findings with regards to a certain property being subjected to inspection by an insurance firm. Field personnel are deployed to inspect the property and record their findings in a ruggedized mobile device. Photos and videos can be captured as evidence supported with the corresponding timestamps and geotags during the time of inspection.