Electronic signature for insurance companies

A sector with high contractual volume

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

Commonly signed documents

• Insurance contract (underwriting)

• Membership certificate (mutual funds, pension schemes)

• Amendment (modification of cover, beneficiary)

• SEPA mandate (premium collection)

• Claim declaration

• Settlement receipt (indemnification)

• Pre-contractual information sheet (IDD)

Recommended signature level

For an insurance contract, advanced electronic signature (AES) is the standard. It provides the two-factor identification required 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:

• identify the underwriter strongly

• ensure traceability of consent (audit trail)

• retain documents long-term (minimum 10 years)

• provide pre-contractual documents in advance

eIDAS-compliant electronic signature meets these requirements natively.

Operational benefits

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

• Centralised claim file: declaration + attachments + signature

• Improved conversion rate: fewer abandonments during underwriting

• IT system integration: direct input to core policy 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 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 contract generation + IDD sheet + SEPA mandate

• Sent in AES (OTP SMS)

• Signature in under 5 minutes by underwriter

• Automatic input to core policy system and first premium collection

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

How Certyneo helps you

Certyneo offers a dedicated service 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 DDA video advice?

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

Can an amendment be signed in SES?

Depending on the stakes. For a substantial modification of cover, 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.