Top 10: Know Your Customer Platforms

Know Your Customer platforms have become a critical pillar of the modern insurtech stack, helping insurers balance rapid digital growth with rising regulatory and fraud pressures. 

As onboarding, claims and servicing move online, carriers need reliable ways to verify identities, screen individuals and businesses and monitor risk throughout the policy lifecycle. 

Today’s platforms combine identity verification, AML screening, behavioural analytics and real-time decisioning, often delivered via APIs and configurable workflows. 

Leading providers range from global data and risk intelligence specialists to agile regtech firms focused on biometric verification and fraud prevention. 

Together, they are reshaping how insurers reduce leakage, protect customers and scale digital distribution with confidence, while meeting evolving compliance expectations across markets and product lines.

10. Know Your Customer Ltd.

CEO: Claus Christensen
Founded: 2015
HQ: Hong Kong

Know Your Customer Limited is a RegTech provider focused on digital onboarding automation across KYC, KYB and AML, to streamline business client compliance at scale.

From an insurtech perspective, it is most relevant for insurers that serve corporates, specialty clients and complex ownership structures where ‘know your customer’ extends beyond an individual to beneficial owners, connected entities and ongoing risk changes.

Ondato OS is a unified KYC compliance platform that combines identity verification, AML screening and lifecycle management.

For insurtech teams, the core benefit is orchestration. Providing a single place to run document and biometric checks, screen against sanctions and PEP lists, and keep monitoring active customers as risk evolves. 

Ondato is particularly relevant for commercial lines, cross-border products and any model involving delegated authority where consistent controls are needed across multiple parties. 

It can also support fraud prevention by improving identity assurance at inception and reducing the ability for bad actors to recycle identities across products or channels.

8. Veridas

CEO: Eduardo Azanza
Founded: 2017
HQ: Spain

Veridas is explicitly insurance-oriented in its services, offering biometric and identity verification capabilities designed to let insurers verify customers quickly and securely, including passwordless journeys. 

Veridas’ digital onboarding approach centres on remote validation via ID document capture and checks that the user presenting the document matches the ID holder.

In practice, insurers can use this for step-up verification when risk rises, such as high sums insured, unusual claim timing, changes to beneficiary details or suspicious device patterns.

For those looking to modernise their legacy stacks, Veridas can speed the delivery of secure digital servicing without sacrificing conversion.

7. SmartSearch

CEO: Phil Cotter
Founded: 2011
HQ: UK

SmartSearch is a UK-focused compliance platform for AML, KYC and related screening supporting insurers and MGAs operating in regulated distribution models, particularly where they onboard corporate clients, intermediaries or higher-risk customer segments. 

SmartSearch provides an electronic verification platform that covers KYC, KYB, sanctions and PEP screening with ongoing monitoring, aiming to reduce onboarding friction while meeting compliance expectations. 

SmartSearch is most relevant for lines where financial crime controls are scrutinised, such as commercial insurance, speciality, high-net-worth cover and products tied to complex ownership structures.

6. SEON

CEO: Tamas Kadar
Founded: 2017
HQ: Hungary

SEON is a real-time fraud prevention and AML compliance platform built around digital footprinting and machine learning. It is beneficial for those in insurance facing application fraud, account takeover and payment-related abuse. 

SEON’s solution is beneficial for high-volume direct channels where fraud often concentrates at the edges of pricing and promotion, such as cashback offers or low-premium products targeted by fraud rings.

In claims, similar signals can help detect suspicious patterns at first notice of loss, especially for digital-first claims submission, where identity and intent are harder to assess.

5. Mitek Systems

CEO: Edward H. West
Founded: 1986
HQ: San Diego

Mitek Systems is a digital identity verification and authentication provider whose technology is commonly applied to customer onboarding, high-risk transactions and fraud prevention. 

For insurtech providers, the key benefit is reducing abandonment while maintaining strong assurance, especially on mobile, where many insurance journeys now start and finish. 

Mitek Systems combines multiple identity verification techniques into a single API-driven onboarding experience, which suits carriers aiming for straight-through sales with fewer manual referrals. 

In insurance, this can support quote-to-bind flows, account recovery and step-up checks for sensitive actions such as changing payees or submitting claims documentation.

4. AU10TIX

CEO: Yair Tal
Founded: 2002
HQ: Israel

AU10TIX is focused on automated identity verification that supports compliance and fraud reduction in digital onboarding, making it directly relevant to insurers pushing more sales and servicing into self-serve journeys. 

AU10TIX specialises in document verification and related controls designed to help businesses catch fake accounts and identity theft while keeping the customer experience fast. 

In insurance, that translates into cleaner acquisition funnels, fewer policy fraud cases that originate from weak identity controls and better confidence in downstream servicing, including beneficiary changes and payout events.

3. Alloy 

Alloy is an identity decisioning and data orchestration platform that can sit in front of an insurer’s onboarding and fraud stack. 

It brings together multiple data sources into a single workflow so teams can tune verification, AML checks and risk decisions to balance conversion with fraud loss. 

For digital insurers and embedded insurance partners, Alloy’s approach is useful when distribution is fragmented across channels and geographies: you can adapt checks by product, risk tier or customer segment without rebuilding the entire flow.

It also supports ongoing monitoring, which is increasingly important for claims fraud, account takeover and synthetic identities that mature over time rather than at the point of sale. 

The insurtech upside is speed to experiment: insurers can A B test data sources, step-up verification and manual review thresholds to reduce friction while protecting loss ratios.

That is particularly valuable for high-velocity products like travel, gadget and pay-as-you-go cover.

Refinitiv’s capabilities now sit within LSEG Data & Analytics and LSEG Risk Intelligence, benefiting insurers that build data-led products and investment strategies. 

For insurers, Refinitiv helps its customers with data infrastructure including market data, reference data nad risk intelligence.

It can also feed pricing assumptions for specialty lines, improve portfolio and asset-liability oversight and support risk teams with consistent third-party screening and analytics across geographies.

In practice, the value for insurtech is connecting LSEG data streams into modelling, reporting and product workflows with strong lineage and controls.

1. LexisNexis Risk Solutions 

CEO: Mark Kelsey 
Founded: 1970 
HQ: New York

LexisNexis Risk Solutions is a core data and analytics partner for automating underwriting, pricing and claims decisions. 

Its value lies in turning fragmented identity, public record and behavioural signals into decision-grade risk intelligence. 

For carriers, the strongest applications are fraud detection and claims triage: predictive models and scoring can flag complex, high-risk claims early, support straight-through processing for low-risk cases and help investigators prioritise limited capacity. 

Beyond claims, insurers can use its broader risk decisioning portfolio to improve customer acquisition, reduce leakage and maintain a consistent view of risk across the policy lifecycle, including onboarding and ongoing monitoring.