CRIF accelerates launch of open insurance solution

CRIF Decision Solutions has launched its open insurance solution, CRIF Digital Next, to help insurers take advantage of the consumer shift to digital driven by the COVID-19 lockdown.

CRIF Digital Next gives insurers access to real-time open banking data, enabling them to better understand customer behaviours and create more efficient products and processes.

The solution allows insurers to upload documents, verify identity, undertake credit, anti-fraud and anti-money laundering checks and digitally sign documents. This impacts the speed and accuracy with which they can underwrite risks.

The technology also helps insurers to deliver targeted sales and marketing material, to develop digital and on demand products, and to more easily link propositions to partners such as retailers, banks and telecommunication providers.

Sara Costantini, director at CRIF Decision Solutions, said: “The pandemic experience, by default, increased consumer propensity to interact and purchase services digitally, whilst heightening demand for insurance cover tailored to individual circumstances.”

She added: “We had been investing in and developing our open insurance solution and saw the need to bring its launch forward to support UK insurers with the challenges they face and the opportunities arising.”

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