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Insurance Documents and Electronic Signatures

The insurance industry was among the first to recognize the numerous benefits of electronic signatures. Equipped with a tablet and laptop computer, insurance agents in the field can now populate complex application forms and capture the customer's signature electronically, saving hours and even days over traditional paperbound processing.

By digitally originating new home, life, auto and health insurance policies and pension plans, e-documentation shortens the application process, greatly reduces costly clerical errors, and provides a verifiable, legally binding contract that cannot be altered, misfiled or stolen. Policy information can be easily retrieved and amended in the field when a customer requests additions or changes to their coverage, or when processing insurance claims.

Electronic signature capture is helping the insurance industry battle one of its costliest demons: paperbound record keeping. Automated documentation not only greatly reduces the cost to input, store and retrieve policy information, it also supports the high levels of security and confidentiality required under new, stiffer consumer protection laws.

It has been estimated that the insurance industry saves seven-fold on every policy that originates as an electronically signed document.

e-Signatures for Insurance (.pdf)