Insurance Sector Adopts Video KYC: What They Need to Learn
After the banks, it is the time for the insurance companies to start rejoicing as the IRDAI has finally given the thumbs up to the video based KYC verification procedure. Unless you were living under a rock you should know that Video KYC for Banks has already been approved by the RBI and is in motion. Not to mention that decision helped people get their financial transactions done even despite the lockdown situation caused by the pandemic. The insurance sector however, has been through a rough patch due to such unprecedented situation and ended up seeing a decline in the business as well. However, they can definitely turn around now as they are going to get their customers onboard in a jiffy. Video KYC Solution has a list of Benefits There are some vital lessons the sector can learn regarding the VCIP Digital KYC solutions , from the banking sector. Let's find out what they should learn: Ensure a smoother user journey: As the insurance companies gear up for getting video