Sun Life Financial has become the first North American insurer to partner with SecureKey Technologies, a provider of identity and authentication solutions using Blockchain technologies.
This collaboration will make it even easier for Clients to do business with Sun Life, enabling them to conveniently and securely share identity information using other trusted providers, such as banks, telcos and governments.
Sun Life Financial executive vice president & chief information officer Mark Saunders said: "As part of our relentless focus on making it easier for our Clients to do business with us through new digital capabilities, we are proud to team up with SecureKey to offer an even more simplified online experience.
"As we take the next step along our digital transformation journey, we'll soon be able to streamline and simplify the onboarding process for new Clients by using SecureKey's permission-based tools and Blockchain security to instantly verify personal information."
Sun Life expects to introduce this technology to its Clients in Canada in the coming months. Some of the benefits include:
Blockchain based solutions designed to make it easier for Clients to share their credentials in an efficient and secure way.
Seamless and real-time identity verification process for new Clients to streamline digital offerings.
Quick and easy data updates to information, enabling sharing of the most current, verified Client data.
SecureKey Technologies founder and CEO Greg Wolfond said: "We are very excited for Sun Life to join the Verified.Me ecosystem.
"Through this strategic relationship, Sun Life is reinforcing its commitment to providing the best possible digital experience for its Clients."
The new collaboration is the latest move by Sun Life as it continues to transform its business by advancing the company's digital strategy and exploring innovation-led collaborations.
Sun Life has developed the highest rated insurer mobile app for Clients in Canada and recently launched Ella, its digital coach, for Group Plan members and retail Clients.