eSignLive Participates in NAVA Live Electronic Signature Demonstration
Helps NAVA members visualize how electronic signatures can integrate into current business processes
Montreal, QC, November 24, 2004 — Silanis Technology, the market leader in automating business approval processes, announced today its participation in the National Association for Variable Annuities (NAVA) live electronic signature demonstration. As one of the two platforms selected, Silanis will showcase its web-based electronic signature solution to a select group of insurance, investment and financial service companies. The live demonstration will show a simulation of an insurance business process, with the addition of electronic signatures.
NAVA’s electronic signature simulation grew out of an eighteen-month initiative by the E-Signature Working Group to achieve straight through processing. The Working Group recognized that it was critical for policies, contracts and other legal documents to be electronically executed, and as a result, sponsored a proof-of-concept lab to help NAVA members evaluate various approaches.
“By adopting electronic signature solutions, our members can realize significant cost reductions for print, postage and fax costs, and people-time for follow-up processes,” said Deborah Tucker of NAVA. “Our electronic signature demonstration will show NAVA members two implementations of the technology, and will help them to better understand how electronic signatures can be integrated into their processes today.”
Silanis will launch its live electronic signature demonstration this month for NAVA members to experience first-hand the use of electronic signatures over the web. In addition, Silanis will also demonstrate how electronic signature capture pads can be used in conjunction with web-based solutions for face-to-face approval processes with insurance agents.
“This industry has taken great strides to reduce paper flow through data exchange, standardized forms and business rules. Adding electronic signatures is a logical next step for providing true end-to-end processing and achieving the full benefits of these efforts,” said Michael Laurie, vice president of Silanis. “Silanis is very pleased to be a part of this demonstration and is dedicated to helping NAVA members better understand electronic signature technology and its fit with their unique process requirements.”
The companies participating in the NAVA simulation include AEGON Insurance Group, Allstate Financial, American Express Financial Group, Finetre Corporation, Genworth Financial, ING U.S. Financial Services, MetLife, Minnesota Life, Nationwide Financial and Symetra.
NAVA is a non-profit trade association located in suburban Washington D.C. NAVA provides a variety of services to the industry including educational forums, research and conferences aimed at furthering the development and understanding of fixed and variable annuities, income annuities and variable life insurance. NAVA also maintains and supports an educational website for consumers at http://www.RetireOnYourTerms.com.
Silanis Technology is the leading provider of solutions that automate the Business Approval Process. The company’s award winning desktop and server-based solutions leverage electronic signature and approval technology to achieve total automation. With over 1,000 customers across government, mortgage, auto finance, insurance, banking and FDA regulated industries, Silanis has over a decade of experience in developing and delivering solutions that work the way organizations do. Government customers include NIH NIAID, USPS OIG, US Mint, and an enterprise license with both the US Joint Chiefs of Staff and the US Army.
Mary Ellen Power (514) 337-5255 ext. 1117 [email protected]