Electronic Signature for Insurance Companies

A sector with high contract volume

The insurance sector handles millions of contracts per year: subscription, renewal, amendments, claim declarations. Digitizing these flows is a strategic priority — reducing subscription timeframes, improving customer experience, reducing administrative costs.

Commonly signed documents

• Insurance contract (subscription)

• Membership certificate (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 two-factor identification needed to trace the subscriber'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:

• strong identification of the subscriber

• traceability of consent (audit trail)

• long-term document retention (minimum 10 years)

• prior delivery of pre-contractual documents

eIDAS-compliant electronic signature fulfills these requirements natively.

Operational benefits

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

• Centralized claim file: declaration + attachments + signature

• Improved conversion rate: fewer abandonments during subscription

• IT system integration: direct feed to policy core 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 AML-risk contracts

• Storing identity documents beyond the necessary period

Concrete case: home insurance subscription

A digital insurance company subscribes to 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 in AES (SMS OTP)

• Signature in less than 5 minutes by subscriber

• Automatic policy core system feed and first premium collection

Subscription 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, bulk export for ACPR audits.

FAQ

Does electronic signature replace video-advice for IDD?

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

Can an amendment be signed with SES?

Depending on the stakes. For a material 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 subscriber. The beneficiary is designated in the contract.

Conclusion

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

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