Electronic Signature for Insurance Companies

A sector with high contract volumes

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

Documents commonly signed

• Insurance contract (underwriting)

• Membership form (mutual funds, benefits)

• Amendment (guarantee modification, beneficiary)

• 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 policyholder'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 policyholder

• trace consent (audit trail)

• retain documents for a long period (minimum 10 years)

• provide pre-contractual documents in advance

eIDAS-compliant electronic signature natively meets these requirements.

Operational benefits

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

• Centralised claims file: declaration + attachments + signature

• Improved conversion rate: fewer drop-offs during underwriting

• IT system integration: direct feed to policy administration system (Guidewire, Duck Creek, Sapiens)

Common mistakes

• Forgetting the IDD information sheet in the envelope

• Using SES for high-capital life insurance

• Not activating video KYC for money laundering risk contracts

• Storing identity documents beyond the necessary period

Concrete case: home insurance underwriting

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

• Online entry by the prospect (2 min)

• Premium pre-calculation

• Automatic generation of contract + IDD sheet + SEPA mandate

• Sending in AES (SMS OTP)

• Signature in less than 5 minutes by the policyholder

• Automatic feed to policy administration system and first premium deduction

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

How Certyneo helps you

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

Discover Certyneo's electronic signature solution

FAQ

Does electronic signature replace IDD video advice?

No, these are two separate steps. The signature confirms consent after the information phase.

Can an amendment be signed in SES?

Depending on the stakes. 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 policyholder. 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.