Remote signing system for Foyer Group

Remote signing system for Foyer Group

Can you describe your challenge with regards to the recently introduced Insurance Distribution Directive (IDD) and how you chose to address it?

The Insurance Distribution Directive (IDD) requires insurance-based product distributors to provide certain pre-contractual information to the customer before the conclusion of an insurance contract. In relation to the contracts proposed or advised on, the distributors are obliged to obtain explicit consent from the customer acknowledging the reception of advice.

To address this challenge, we chose to work closely with Finologee to build an efficient framework that meets regulatory requirements for customer consent given remotely using a digital channel.

Which opportunities for your institution do you see stemming from digitalisation in general?

With digital transformation having a substantial impact on the insurance ecosystem, relentlessly improving customer journeys across channels and business functions has become key in order to offer best-in-class customer experiences, grow faster and more profitably.

As new technology is modularising the insurance value chain and customers are seeking complex, highly personalized products, FinTech companies are raising expectations for a frictionless customer experience.

In this context, collaboration between traditional companies and new-age FinTech firms certainly is one of the best ways to address the digitalisation challenges and to assure long-term growth. This kind of partnerships are able to foster deep innovation processes in the industry while benefiting both the participating companies and end-customers.

Why did you choose Finologee as your provider?

We chose to work closely with Finologee to assess and define a suitable setup for customer consent given remotely, thanks to its founders track record in delivering high-end digital products and solutions.

An iterative process jointly led by the FinTech specialist and Foyer was conducted to determine the scope of the requirements from usability, technical and regulatory constraints.

Thanks to our technical implementation capacity and determination to improve our customer journeys by introducing new technologies, combined with Finologee’s technical expertise, regulatory knowledge and highly flexible API platform, the whole definition and implementation process took less than two months.

Finologee made sure the setup was fully compliant with industry regulations and provided us with full support during the entire process.


The implementation of this solution has enriched the existing face-to-face electronic signing method that we have been using for years. The first use case of remote signing has been rolled out for advice reports. These documents are used to materialise the adequacy between the customer’s needs and the recommended insurance product, before the contract subscription takes place.

Each document issued by the platform contains a LuxTrust Electronic Seal (E-Seal), certifying its content and with an encrypted timestamp of the creation date. Upon downloading the report, our customers acknowledge the reception and sign-off on it using a one-time password (OTP) sent to them via SMS message. Both processes are handled on Finologee’s API platform.

The remote signing system developed with Finologee combines simplicity and security for our customers. Made possible thanks to the intervention of our Innovation Hub, which helped us select the best partner, it was quickly implemented thanks to the excellent collaboration between the Foyer and Finologee teams. And, only a few weeks after its introduction, it is a success: nearly one in three Foyer customers already opts for this new service.

Created in 1922, Foyer S.A. is a leading financial player in Luxembourg.

Its solidity lies in the strength of its shareholding, but also in the work of its 775 employees in three countries and its 660 agents in Luxembourg. Leader of the local life and non-life insurance market, Foyer is active in several European countries through three business lines: insurance, benefit protection insurance and wealth management. Its extended range of products is aimed at individuals, professionals and companies to whom it offers high-end and innovative services. Concerned about its corporate social responsibility, Foyer Group has also been involved in general interest and social partnership projects for many years.