Electronic contracts and electronic insurance contracts: What you need to know

Nowadays, information technology is developing day by day. Electronic insurance policy is widely used and popularized and it offers many benefits. What is an e-insurance contract? The following article will help you better understand the electronic insurance contract.

Electronic contract

It can be seen that the issue of authenticating the subject of the insurance contract as well as the process of implementing the life insurance contract is very important. With current technology, digital signatures can be a solution that has some advantages over handwritten signatures, with a relatively complete legal basis and technically feasible. The use of digital signatures will not pose the problem of forging signatures as in the case of hand-signing. 

Insurance contracts and related documents, if digitally signed, will show the exact time of signing, can easily be kept and have the value of proving the signing subject within the validity period of the insurance policy. A digital certificate issued by an organization providing digital signature certification services, as well as being considered a written contract according to regulations. If the digital signature is not recognized on a document, the owner or manager of the digital signature will be obliged to prove that his digital signature has been illegally used (such as being deceived, mistaken, stolen digital signature device), but will still be responsible for the consequences resulting from not fully complying with digital signature management measures. 

In addition, insurers can also require insurance agents to use digital signatures to manage, ensure transparency and honesty in insurance agents’ activities, and increase trust in insurance agents. trust and improve the customer experience. For example, the insurer can request the insurance agent to update and confirm the contract performance process with the insurer and the customer with a digital signature (such as when the customer pays the fee in cash). The agent must update and digitally sign on the insurance application (app) to confirm with both the customer and the insurer).

The use of electronic means, including e-contracts, will change the way life insurance contracts are arranged, signed and executed, but will not diminish or replace the role of the agent. insurance. Insurance agents will still be the main force to approach customers, introduce and sell products, guide, explain, provide information, and with the implementation of electronic transactions, quality, transparency Transparency and honesty in the activities of insurance agents will be better guaranteed and insurance agents who do not comply with the law and business ethics will be eliminated.

The set of electronic insurance contracts must contain the following documents: 

List of insurance policies: the table of contents automatically redirects to the page with documents to view. Insurance certificate. Insurance claim file. Table showing insurance benefits. Other insurance transaction documents (If any). 

Rules and terms of insurance products: 

Customers click on each product item to see the corresponding terms approved by the Ministry of Finance. Each insurance company will have different storage requirements.

However, the process is amazingly simple and offers customers the following benefits: 

Eliminate application submission time 

No need to sign and return the application 

Reduce processing time 

Policy approval and faster delivery 

Protect your customers with digital signatures for life insurance policies 

Secure the registration process 

Benefit from a secure end-to-end registration process, resulting in signatures with real legal value.

Reduce handling costs 

Optimize your task management and reduce costs associated with contract creation and tracking by digitizing your entire application process. Speed ​​Up Policy Availability Send your customers their life insurance policies to be checked and logged in in just a few clicks from any device.

For more information, please contact FPT Electronic Contract:

Phone: 1900.636.191

Email: fpt.econtract@fpt.com.vn

Website: econtract.fpt.com.vn/

Contact FPT eContract

Lê Thị Mai Phương