As digital transformation is changing industries, the insurance sector is adopting technology to enhance operational efficiency and improve the customer experience. Among the most significant challenges faced by insurers offering vehicle-related products is the RC verification and customer onboarding.
To solve these pain points, a comprehensive online infrastructure was developed using a suite of APIs. The APIs enabled the automation of key steps in the vehicle insurance onboarding process.
The Challenges Faced by the Leading Insurance Company
Vehicle insurance companies are struggling with several issues in RC verification and customer onboarding.
- Manual Verification of Vehicle Details: Insurance agents or customers need to provide vehicle documents or enter information manually. It was prone to typing mistakes, outdated information, and mismatched details.
- Inaccurate Contact Verification: It confirms that you reached to rightful vehicle owner. Insurance companies struggled to connect with the right person.
- Time-consuming Identity Verification: The physical documentation and verification were time-consuming. It delays the onboarding cycle and results in customer drop-offs.
- Limited Visibility into New Registration: Insurers had no method to track the application or approval status of newly issued RCs.
Solution: Accuracy and Automation
To solve the issues, Surepass offered multiple APIs for RC verification and Customer onboarding.
- Instant Verification of Vehicle Details: RC Verification APIs, such as RC to mobile, RC Status, etc., help in instant verification and eliminate the need for physical documentation work.
- Verified Contact Matching: The RC to Mobile API helps in mobile number verification with automation and efficiency. It ensures that the update is sent to the right person.
- Simplified Identity Checks: The API streamlined the verification. It makes the verification process quicker, secure, and improves the overall efficiency of the process.
Benefits and Outcomes
After the integration of right APIs, the companies have seen significant improvements. Here are some of the most impactful outcomes.
- Onboarding time
The time taken to verify documents and issue a policy dropped from approximately minutes to seconds. It enables faster onboarding and improved customer experience.
- Improved Accuracy
Cross verification of RC, chassis, and Aadhaar details minimized errors and reduced the risk of insuring stolen or identified vehicles. Reduce risk of fraud with secure verification.
- Lower Drop Off Rates
APIs enable faster paperless processing and instant feedback during onboarding, significantly reducing customer drop-off rates.
- Scalable
As the company has a large-scale operation, the bulk search helps in the mass verification process.
Conclusion
After integrating vehicle and identity verification APIs by the leading Insurance Company into the insurance onboarding process, the automated verification reduces manual processes. This system delivered measurable improvements in efficiency, accuracy, compliance, and customer satisfaction.
This case of insurance shows how automation improves both operational efficiency and customer experience. Whether focusing on high-volume vehicle insurance or premium policies.
As the insurance sector continues to digitize, integration of the right digital solution is essential. For insurers looking to simplify operations and smoother experience to their customers. Here, Surepass helps you with the right set of APIs for Fintech, Insurance, Business Verification, KYC, and more.
