Yuanta Life Insurance creates a remote insurance service using FaceMe® eKYC & Fintech for facial recognition and ID verification

• Location: Taiwan
• Industry: Life Insurance
• Year founded: 1992
• Capital: 6.665 billion NTD (as of September 1, 2023)

• Salespersons had to physically meet customers to introduce products, and obtain signatures on paper insurance documents.
• During Covid, customers' demand for insurance purchases increased significantly, but in-person meetings and document signing were discouraged - rapidly rising the demand for remote insurance.
• To comply with privacy laws and regulations, operators must introduce appropriate emerging technologies such as video, biometrics, document identification, etc., and handle the "remote insurance" business while taking into account commercial interests and protecting customers' personal identifying information (PII).

Yuanta Life adopted the FaceMe® eKYC identity recognition and verification solution. Now, during the remote insurance application process, customers use the remote insurance application mobile app to communicate with the salesperson through video conferencing, using only their mobile phone's camera. Identity authentication is confirmed, and audio and video recordings of the entire process are kept for future audit purposes. Even if the policyholder and the insured party are different, the remote insurance application can still be completed. The core functions of FaceMe® eKYC includes:

• ID card authenticity verification
• Liveness recognition to ensure that the person on camera is real
• Identity verification to ensure that the ID card matches the person on camera
• eSign by face, conveniently and safely

• Comprehensive Functions: FaceMe® eKYC & Fintech provides complete functions such as video conferencing, facial recognition, liveness detection, personal identification verification, identity card authentication, etc., meeting industry demands with one-stop shop integrated services.
• Highly Accurate: FaceMe® has been tested by NIST and boasts an impressive 99.83% True Acceptance Rate (TAR) and a false acceptance rate as low as one-in-a-million, rates deeply trusted by the financial industry.
• Third-party Certified Anti-Spoofing Technology: iBeta biometric level 2 compliant anti-spoofing technology, which can effectively block 2D and 3D faud attacks 100%, preventing the use of fake photos or videos.
• Safe and Secure Video Conferencing: Trusted by government and public agencies the video conferencing system's proprietary AES-256-bit data encryption is in line with multiple information security certifications.