In an era where speed, security, and convenience are essential, Sun Life Vietnam has taken a bold step to redefine the insurance experience. Partnering with Kyta Platform, Sun Life has successfully digitized its contract signing process, making it faster, more secure, and entirely paperless. This innovative move not only streamlines operations but also ensures a seamless experience for both individual and corporate clients. The outcome is a significant leap forward in operational efficiency, customer satisfaction, and long-term growth.

Our client

Sun Life Vietnam, a prominent leader in the insurance market, is a proud member of Sun Life Group (Canada), a renowned global financial services organization with over 157 years of expertise. As one of the top ten insurers in Vietnam, Sun Life Vietnam is committed to providing lifelong financial security and promoting healthier lifestyles for its customers. The company is a market leader in pension insurance, serving both individual and corporate clients across the country.

Dedicated to enhancing lives and fostering a healthier, safer community, Sun Life Vietnam continually strives to improve its services. In line with its commitment to modernization, Sun Life Vietnam has partnered with the Kyta Platform to enhance its operations and ensure an exceptional experience for its customers and business partners. This collaboration highlights their dedication to harnessing advanced technology to elevate operational efficiency and customer service, reinforcing their vision of delivering brighter futures for all.

Context/ Challenges

Amid the rapid digital transformation, the demand for more efficient, secure, and convenient contract signing processes is rising. Sun Life Vietnam faced a range of operational challenges in its contract signing workflows for both individual and corporate clients, including:

• Multiple Contract Sets: Clients often needed to sign several attached contract sets, which involved a complex and time-consuming process of managing and tracking multiple documents.

• Online Contract Signing: The need to transition to an entirely online contract signing process, ensuring that both individual and corporate clients could sign documents remotely, without the need for physical paperwork or in-person meetings.

• Real-Time Monitoring: The process required constant monitoring to ensure that all steps were completed efficiently. The manual tracking of document status was inefficient and prone to delays.

• Automatic Notifications: Clients need to be automatically notified throughout the signing process to ensure transparency and keep them informed about the status of their contracts. Without an automated system, this communication became burdensome.

• Compliance and Security: Ensuring that the online signing process was secure, compliant with regulations, and safeguarded against fraud was critical for maintaining trust with clients and meeting industry standards.

To overcome these challenges and provide a more seamless, efficient experience, Sun Life Vietnam sought a solution that could streamline the contract signing workflow, reduce errors, and improve communication with clients.

Kyta Platform Solution

To address Sun Life’s operational challenges and enhance contract management, Kyta Platform offers a suite of solutions focused on secure electronic signing, dynamic forms, and automation to meet both current and future insurance product needs:

• Paperless Contract Signing: Kyta’s secure e-signature technology enables real-time contract signing, eliminating paper reliance and reducing waiting times. Customers can sign anytime, anywhere, enhancing convenience and improving the user experience.

• Contract Lifecycle Management: Kyta automates and manages the entire contract signing process, from creation to signing, authentication, and storage, reducing manual tasks and speeding up processing.

• System Integration: Kyta integrates smoothly with Sun Life’s existing platforms, ensuring seamless data transfer and eliminating the need for duplicate entries.

• Flexible Dynamic Forms: Kyta provides customizable forms that adapt to changing product offerings. With features like auto-population and conditional logic, the platform streamlines the customer experience, reducing errors and enhancing accuracy. This significantly minimizes the risk of misfiled or lost documents—issues that lead to delays, as reports indicate that 7.5% of documents are lost and 3% misfiled.

• Compliance & Security Assurance: Kyta ensures compliance with eKYC, IDCheck, and AI-powered verification, preventing fraud and securing identity authentication. Contracts signed on the platform are sealed by the Ministry of Industry and Trade, guaranteeing top-level legal compliance and security.

Value delivered/ Results

Kyta Platform's solution has delivered transformative results for Sun Life, remarkably enhancing customer experience and driving business success through advanced online contract signing.

1. Faster Signing Process:
   Kyta’s online contract signing solution allows customers to sign documents securely and conveniently from anywhere, reducing the need for paper-based processes and enabling faster contract completion. This improvement enhances the overall customer experience, increasing satisfaction and driving business success. 

2. Operational Efficiency & Cost Savings:
   By automating document workflows, Kyta reduces operational costs by up to 80% and cuts paperwork handling time by 90%. This significant reduction in manual processes increases productivity, freeing up valuable time for staff to focus on more strategic tasks.

3. Reduced Errors:
   Kyta’s e-signature technology and dynamic forms minimize the risk of human error, decreasing delays caused by misfiled or lost documents. With fewer mistakes and smoother processes, businesses benefit from greater efficiency and improved compliance.

4. Scalable Future Growth:
   Kyta’s flexible platform adapts seamlessly to evolving business needs, offering dynamic forms that integrate new products and services. This scalability ensures the platform can meet the growing demands of Sun Life, supporting sustainable long-term success.

Conclusion

In conclusion, the partnership between Sun Life and Kyta Platform represents a significant shift toward digital innovation in the insurance industry. By embracing electronic contract signing and automating key processes, Sun Life has considerably enhanced efficiency, reduced costs, and improved customer experience. This collaboration underscores Sun Life's commitment to meeting the evolving needs of its clients, reinforcing its position as a forward-thinking leader in a competitive market.