For today’s consumers, convenience is king when it comes to insurance. Free electronic signatures software may be used by insurance businesses to quickly and digitally capture a customer’s signature, eliminating the need to print, scan, fax, or email back signed documents. Transactions may be completed quickly and from any place, so you don’t have to waste time filling out paper forms.
The eSignature sector today has a wide variety of options. To varied degrees, they all offer some level of cost savings, efficiency, and convenience. Because e-signature products aren’t all created equal,
There is a huge range in features, usefulness, and price amongst different systems. A few considerations if you’re looking at electronic signature software for your insurance company.
Compatible agency management system?
Make sure to check out the electronic signature alternatives utilized by insurance agents when you’re considering your own options. It may be possible to save time and money by integrating electronic signature solutions with agency management systems in some cases.
You should look for solutions that support two-way integration, which means that documents signed digitally will be kept in both the electronic signature software and your organization’s back-end system. Uploading papers signed by you and your clients to platforms like Applied Epic’s Vertafore and QQSolutions’ GBS is made possible by the QQSolutions technology offered by Vertafore.
How long do installation and training take?
Training and implementation of ESignature software must take less than a minute. An online signature service with a steep learning curve is one of the first signs of poor user experience.
Insurance professionals don’t require a lot of the other capabilities that many eSignature providers give as an added bonus. Try to select software that even your less tech-savvy employees can quickly grasp and install.
What level of security is provided?
There should be the same AES 256-bit SSL encryption technology that banks use for all interactions with an insurance company’s eSignature system.
Password protection and RSA key encrypting eSignature systems are an extra layer of security to consider.
The location of the company’s data servers and the availability of backup power and internet connection should be inquired about.
Is it easy to operate?
People who will be utilizing the best document signing software should be able to easily utilize the program. You shouldn’t need to use different signature procedures for different papers; instead, you should be able to use the same simple methodology to sign all of your electronic signatures.
All of your documents should be able to be stored in a single location with a solid electronic signature solution. As a replacement for keeping documents in many locations, this will make it easy for you to access documents from any location and any time you need them. If you can, avoid scanning documents, uploading them, and modifying them using technologies that need these steps.
Is it in conformity with insurance industry standards?
In the United States, electronic signatures are governed primarily by the Uniform Electronic Transaction Act (UETA) and the E-SIGN Act. In order for electronic signatures to become widely accepted, both of these pieces of law had a significant impact.
ACORD’s standards for the use of electronic signatures in the insurance industry include criteria for authentication, record keeping, particular consumer disclosures, and recording the signer’s intent. These rules and criteria must be adhered to in order to ensure that electronic signatures are legally enforceable and have the same level of enforceability as manual signatures and transactions made on paper.
DO you have the ability to sign on the go and in the office?
Many benefits come with electronic signature software, but perhaps the most important is the ability to customize the process. How flexible a solution is, on the other hand, is very solution-specific. To get the most out of your electronic signature software and provide your company. Your clients as many signing options as possible, look for a system that supports both mobile and in-office signing.
Once you have this capability, you and your clients may agree on a signing protocol. Customers should be able to sign any document, no matter where they are or what device they use, at any time. Bring your consumers to the spot where they may easily sign papers on a tablet or PC. You won’t have to deal with mountains of paper or waste your time flipping through pages.
Conclusion
At last, Customers will appreciate the convenience, time savings, enhanced customer service, and increased income that an electronic signature for insurance may provide for your insurance firm. With so many benefits, it’s hard to think of anything that might go wrong.
As you help clients reduce their risk exposure. You can do the same for your agency by performing thorough research on each and every electronic signature option that you examine. Gather information about each possible insurance provider’s past performance. Do some research, talk to your coworkers, and make sure that the esignature providers you choose are only going to benefit your own company before deciding which one to go with.
