The main challenges in the entire remote negotiation process are AML identification, signing the contract (or other mandatory documents) and the actual remote meeting between the trader and the client so that it meets the rules in terms of the Insurance and Reinsurance Distribution Act.
Today's time is moving to the online world in many areas – the demand for online purchases is growing, we often no longer want to deal with banking services by visiting a branch in person, and the area of arranging insurance is no exception. It should be added that the coronavirus crisis has further intensified this trend. In the field of non-life insurance, online arrangement has already been a common practice, while the area of life insurance offers us a huge potential for use. At Deloitte, we dealt with the question of how the entire process of arranging the environment can be embedded in an online environment so that personal interaction between the salesperson and the client is not necessary and everything takes place remotely. The main challenges in the entire remote negotiation process are AML identification, signing the contract (or other mandatory documents) and the actual remote meeting between the trader and the client so that it meets the rules in terms of the Insurance and Reinsurance Distribution Act. We are able to help both insurance companies and insurance intermediaries with setting up this entire process.
We will help you design the AML identification process so that a personal meeting with the client is not necessary. We are aware that AML is an area of life insurance that must be covered, and we will design variants for you to meet regulatory requirements and at the same time in your processes. Of course, for each proposed option, we will also provide you with an assessment of its risks and benefits in your specific context.
We will introduce you to the possibilities of how to sign a contract with a client using various online tools. We will show you them applied directly to your existing procedures and capabilities of your IT systems, assessing the suitability and potential weaknesses.
The distribution of insurance in person and remote arrangement is a significantly regulated area, especially in life insurance. There are many ways to cover this obligation without meeting the client in the same room and helping you find the one that best suits your internal needs.
For a smooth implementation of the new method of distance selling, we can help you define new processes and optimize existing ones to fit your existing structures while covering all the above-mentioned problematic topics.
We offer project management support during the implementation of new processes necessary for the sale of life insurance remotely. We can cover the management of the entire project for you from the initial analysis, through pilot operation to the final form in real production, as well as coordination across all interested stakeholders who will be involved in the new processes.
We will help you and your employees understand how to use your chosen tools for arranging insurance remotely so that the whole process runs efficiently and at the same time brings a positive client experience.
