Coverpoint Case Study
Coverpoint Get Automated Digital Signing for Online Insurance Documents
Secure processing for insurance e-documents
Coverpoint is a web enabled trading tool designed by insurance people for the insurance industry to take advantage of the Internet. It is used by insurance brokers and underwriters for accessing, rating, quoting and buying insurance products via the web.
As part of the online process Coverpoint generates a wide range of insurance documents, from quotes and policy wordings to certificates and invoices. These are created as Adobe PDFs, transmitted by email and archived online.
With all documentation available in electronic format and accessible online, Coverpoint needed to ensure that everything they created was protected using the highest levels of security because of its sensitive and legal nature. They also needed to satisfy the EC Digital Signature Directive, which mandates how all electronic documents must be digitally signed.
Coverpoint looked for a supplier with proven expertise in secure Internet technology, who would provide them with a secure environment for the transmission and storage of electronic documents. In addition, it was essential that they received an automated, fast and reliable document signing service.
Coverpoint found the solution they were looking for in the Accountis Core Platform with Enterprise HSM (Hardware Security Module). Harry Croydon, Chief Executive Officer at Coverpoint explains why they chose Accountis; "Accountis were recommended to us and we were very impressed by their product range and commitment to security and compliance. The Accountis API was compatible with our systems and offered rapid, hassle-free integration. We felt that we could trust Accountis to provide us with a secure, scalable and reliable service for our network of partners and customers."
Compliance and non-repudiation guaranteed
Coverpoint is an end-to-end, fully automated online system where insurance documents are created, transmitted and archived online. It was therefore essential that all documents were protected at every step of the process. With Accountis, Coverpoint uses digital signatures to sign every document in real-time to protect the data from potential security breeches such as tampering and fraud.
Coverpoint was issued with digital certificates from UK Trust Authority, RBS Trust Assured, and then integrated their back-end systems with the Accountis Core Platform using an Application Programming Interface (API). The digital certificates are now held on a HSM, a physical device dedicated to signing documents at exceptional speeds whilst providing additional physical security protection.
The HSM was supplied by Accountis partner nCipher, a leading provider of hardware security products. The nCipher HSM protects cryptographic keys in a highly secure hardware environment, enabling them to be effectively managed and safely stored.
Rhys Jones, Managing Director of Accountis understands the importance of digital signatures in today's online businesses. "In an industry such as the insurance sector, where sensitive contracts are transmitted online, digital signatures play an invaluable role. In this project, a digital signature is achieving three key objectives. Firstly it verifies the origin of the document. Secondly it validates that the document data has not been tampered with since creation. Finally, it ensures that non-repudiation is maintained and that the contract complies with any existing and future legal requirements. As the use of digital signatures grows in popularity amongst businesses worldwide, we will see the shift away from paper-based processes to electronic gain momentum. With security no longer an issue, benefits such as automation, cost savings and increased efficiency are becoming impossible to ignore."
Secure, reliable and futureproof
By using the Accountis Core Platform with Enterprise HSM Coverpoint can now process secure, compliant documents automatically and quickly. The flexibility of the Accountis API enables Accountis to work seamlessly with Coverpoint's existing systems without the need for extensive integration or customisation. The powerful HSM has the capacity to process large transaction volumes whilst providing the added security needed to protect document information and combat fraud.
"The Accountis secure document exchange solution met with our requirements exactly. The Accountis team was easy to work with and provided a professional, efficient service. Integration was simple and the entire project was hassle-free and painless - exactly how it should be. Coverpoint now provides the insurance industry with a trusted, secure and safe environment for processing products via the web. As our business develops and our operations expand, we look forward to working with Accountis to extend our compliant service across the globe," concluded Harry Croydon.
Find out more about our Secure Document Exchange services
