Eurolife, the leading life and health insurance company in Cyprus, and Genikes Insurance, on of the country's leading insurance companies in the general sector, have entered into a five-year strategic cooperation agreement with the Printec. This partnership aims to implement electronic signatures in the two insurance companies. Eurolife and Genikes Insurance will benefit from a service that meets all electronic identification and document signing needs, while customers will enjoy the most advanced digital services.
Through Printec's electronic signature program, Bank of Cyprus insurance companies can now offer their customers an efficient and secure digital signature process. The electronic identification and document signing project was launched in November 2023 and has been integrated into all new work processes, with plans to expand to other company processes soon.
This project's technical implementation, now completed, provides a comprehensive solution for electronic identification and document signature, ensuring full data security following applicable legal and regulatory requirements. The need to minimize manual tasks and streamline overall process steps for employees, as well as digitize and enhance the customer experience, was paramount.
This cooperation marks an important step towards digitizing signature procedures in the insurance industry in Cyprus, presenting multiple benefits for Eurolife and Genikes Insurance and their customers. The electronic signature significantly reduces the cost and time of processing and manual work for the companies' employees. At the same time, it offers a greener, paperless process, largely eliminating errors while providing improved, high-quality customer service and experience.
Evangelos Monochristou, Chief Information Officer of the insurance companies stated: "The insurance companies of Bank of Cyprus are leading the way once again by integrating technologies that provide a high level of security and an improved user experience for our customers. At the same time, we are almost completely automating our internal processes and significantly reducing the processing time required. With the cooperation of Printec, a complex project was implemented with complete success, achieving all the objectives that had been set."
Maria Loupi, Country Manager of Printec Cyprus, added: "We are extremely happy to announce our collaboration with Eurolife and Genikes Insurance for the implementation of this project. The electronic identification and signing of documents will not only improve the security, efficiency, and data processing of insurance companies but will also provide an enhanced digital experience for end users. Such partnerships strengthen our commitment to offering innovative, efficient, and integrated solutions that meet the modern needs of businesses."
