Electronic Signature and Secure Forms in the Insurance Industry

  • Insurance carriers continue to hold on to traditional paper-based, wet-signature contract execution even though the legal barriers to electronic documents and electronic signature have been eliminated.
  • Other segments of financial services have adopted electronic signature technology, and consumers are expecting all their financial transactions to be supported in an electronic environment.
  • New forces for globalizing insurance and the demand for environmentally friendly companies combined with the pervasive need to prevent fraud and comply with regulations make use of secure documents and electronic signature imperative for carriers.
  • Document security issues are complex, and many insurance carriers would be well served to partner with technology vendors that have deep financial services expertise with electronic signatures.
  • Initiatives for using secure documents and electronic signature must be an enterprise decision not only to determine business value and total cost of ownership but also to effect the culture change necessary for success.