Electronic signature for insurance companies

A sector with high contract volume

The insurance sector processes millions of contracts per year: underwriting, renewal, amendments, claim declarations. Digitalising these flows is a strategic priority — reducing underwriting timelines, improving customer experience, reducing administrative costs.

Commonly signed documents

• Insurance contract (underwriting)

• Membership form (mutual insurance, employee benefits)

• Amendment (guarantee modification, beneficiary change)

• SEPA mandate (premium collection)

• Claim declaration

• Settlement receipt (indemnification)

• Pre-contractual information sheet (IDD)

Recommended signature level

For an insurance contract, advanced signature (AES) is the standard. It provides the dual-factor identification needed to trace the underwriter's consent.

For certain high-stakes contracts (life insurance with beneficiary designation), QES or video KYC may be required depending on compliance policy.

ACPR and IDD compliance

The Insurance Distribution Directive (IDD) and ACPR expect insurers to:

• strongly identify the underwriter

• trace consent (audit trail)

• long-term retention of documents (minimum 10 years)

• prior provision of pre-contractual documents

eIDAS-compliant electronic signature fulfils these requirements natively.

Operational benefits

• Fast online underwriting: contract signed in minutes instead of days

• Centralised claims file: declaration + attachments + signature

• Improved conversion rate: fewer drop-outs during underwriting

• IT integration: direct feed into policy management system (Guidewire, Duck Creek, Sapiens)

Common mistakes

• Forgetting the IDD information sheet in the envelope

• Using SES for high-value life insurance

• Not activating video KYC for high-risk AML contracts

• Storing identity documents beyond the necessary period

Real-world example: home insurance underwriting

A digital insurance company underwrites 200 home insurance contracts per day. Journey:

• Online entry by prospect (2 min)

• Premium pre-calculation

• Automatic generation of contract + IDD sheet + SEPA mandate

• Sending via AES (SMS OTP)

• Signature in less than 5 min by underwriter

• Automatic feed into policy management system and deduction of first premium

Underwriting conversion rate: +35% vs historical paper process.

How Certyneo helps you

Certyneo offers a dedicated solution for insurers and brokers: advanced signature by default, optional video KYC integration, GDPR and eIDAS compliance, 100% EU hosting (Germany), 10-year archiving, batch export for ACPR audits.

FAQ

Does electronic signature replace IDD video advice?

No, these are two distinct steps. Signature records consent after the information phase.

Can an amendment be signed with SES?

Depending on the impact. For a substantial guarantee modification, prefer AES.

Is video KYC mandatory?

Not systematically, but required for high AML/CFT risk contracts.

Retention period?

Minimum 10 years for contracts, often 30 years for life insurance.

Must the beneficiary sign?

No, only the underwriter. The beneficiary is designated in the contract.

Conclusion

Electronic signature is a major transformation lever for insurers: accelerated underwriting, simplified ACPR compliance, modernised customer experience.

Try Certyneo to send, sign and track your documents online simply, quickly and securely.