How Insurance Companies Use Aadhaar eSign + Account Aggregator to Speed Up Policy Issuance

Insurance companies deal with two major challenges:

1. Verifying financial details of applicants

2. Collecting legally valid signatures on policy documents

By integrating Aadhaar eSign API with the account aggregator API, insurers streamline both verification and documentation in a single digital workflow.

1. The Problem: Complex & Slow Insurance Documentation

Insurance onboarding requires:

• Income proof

• Bank statements

• KYC verification

• Consent forms

• Physical signatures

Manual processes cause delays and high drop-off rates.

2. What Is Account Aggregation & How It Helps Insurers

Before issuing a policy, insurers must validate the applicant’s financial capacity.

This is where the account aggregator framework comes in.

Using a bank account aggregation API, insurers can instantly fetch:

• Monthly income

• Existing loans

• Cashflow

• Premium affordability

• Bank details for auto-debit

Because the data comes directly from banks via a regulated bank aggregator, it is accurate and tamper-proof.

3. Aadhaar eSign API for Instant Policy Documentation

After the verification stage, customers must sign:

• Policy proposal forms

• Terms & conditions

• Consent forms

• Medical declarations

With Aadhaar eSign, customers simply complete OTP-based verification and sign instantly.

This reduces:

• Physical paperwork

• Delayed signatures

• Missed submissions

• Operational costs

4. Industry Use Cases

Health Insurance

• Proposal form signing

• Family floater additions

• Claim forms

Life Insurance

• Policy issuance

• KYC consents

• Nominee forms

Vehicle Insurance

• Endorsements

• Renewal agreements

Insurers leverage the flow:
✔ Verify financial capacity using account aggregator API →
✔ Process risk assessment →
✔ Send digital policy for Aadhaar eSign

5. Why Meon’s Aadhaar eSign API Is Ideal for Insurers

Meon provides:

• Secure, UIDAI-compliant eSign

• API that can be embedded in mobile apps/web portals

• Real-time audit trail

• Instant PDF generation

• Smooth integration with AA ecosystem

Insurance companies offering 100% digital onboarding use Meon to simplify and accelerate the entire policy issuance process.