Establishing true innovation is a major challenge for companies in all sectors - including the insurance industry. But two have now succeeded in mastering this challenge: Nect and R+V - both InsurLab Germany members - met at a networking event organized by our initiative and officially announced at the last InsurLab Germany Club event a month ago that they are implementing the first project in Europe where customers can use "Selfie-Ident", an AI-based identification solution, to verify their identity and gain instant access to the customer portal.
We interviewed Carlo Ulbrich (Co-Founder & CSO of Nect) and Thomas Rudolf (IT Innovation Manager at the R+V Insurance) interviewed to learn more üabout the project, its creation and added value.
With "Selfie-Ident" sets a new standard on the European market.äinsurance market. How did this successful cooperation get started?
Carlo: We met at the beginning of the year at the general meeting of InsurLab Germany members. We happened to eat at the same table and got talking after the presentations.
Thomas: Exactly. Carlo introduced me to her product 'Selfie-Ident' and I immediately realized that the product would be a perfect fit for our R+V customer portal. On the way to the station, we exchanged our contact details and then everything took its course. Just as you would expect from a successful networking event.
And how did the further cooperation turn out?
Carlo: It all happened quite quickly. We were informed by the R+V to a workshop where we were able to present our "Selfie-Ident" solution in detail. Together with the R+V team, we then developed a suitable use case, which we then wanted to put into practice together. In a second workshop, we worked out step by step how we could ideally set up "Selfie-Ident" and implement it at R+V's headquarters. R+V can implement in Wiesbaden.
Thomas: We were very enthusiastic about the collaboration - both the work with the teams and the smooth implementation. After all, this is not only an innovative new e-service, but also a state-of-the-art technology application. Once we had mastered the initial workshops and technical challenges, we tested "Selfie-Ident" and prepared the processes for the live release. Finally, we went live with "Selfie-Ident" on September 22, 2018 and since then the solution has been used by several million customers.
Sounds like a great project phase! What was the secret?
Carlo: R+V is a very open-minded insurance company. There is no comparable product like "Selfie-Ident" on the market. So there are no references that the R+V team could have used for their decision to work with us. But they chose us anyway and put their trust in our product. It is precisely this willingness that is needed to work with start-ups and be part of a digitalized, innovative world.
In addition to the great collaboration, R+V itself has published explanatory videos, board interviews and press releases on the topic, which in turn shows that it wants to position itself as a technology leader in the industry and, in our estimation, clearly has what it takes to do so. For Nect the cooperation is the first reference in the insurance industry and thus has a significant impact on the development of our startup.
How exactly can you imagine "Selfie-Ident" in the R+V customer portal?
Carlo: As soon as a customer decides to register in the "My R+V" customer portal, they are asked to identify themselves and enter their personal data. Thanks to "Selfie-Ident", users now only need to take a selfie video and a video of their ID document with their smartphone. Within seconds, the user's identity is confirmed as a fully automated process - and when we say seconds, we mean seconds. Not only does it save time and effort, but it's also fun, which in turn is associated with insurance and adds an extra kick to the first impression.
Thomas: With "Selfie-Ident", we have clearly decided to offer an identification alternative and provide our customers with a completely new user experience. They can now verify their identity quickly and securely in just three minutes. Previously, customers had to register online and wait a few days to receive an activation code by letter and use the code to activate their account. This completely analog authentication process was no longer acceptable to us and, above all, does not meet the expectations of today's digitally-oriented customers.
Where do you see Nects "Selfie-Ident" in the near future?
Thomas: "Selfie-Ident" offers a completely new, user-friendly and digital standard for customer identification within the German insurance industry. We are convinced of the product and are sure that both our customers and other insurers will be too. We will find out soon.
Carlo: We are very proud and grateful for the cooperation with R+V and look forward to continuing to tackle and implement use cases together with insurers. Who knows what the future and the following networking opportunities of InsurLab Germany will bring for us.
More about Nect's "Selfie-Ident"
Nect Selfie-Ident from Nect GmbH on Vimeo.