Survey Shows E-Signatures a Competitive Necessity for Insurance Carriers
Montreal, QC, May 17, 2007 — A recent Silanis Web seminar on electronic signature trends in the insurance industry revealed preliminary statistics that support a growing e-signature trend sure to be addressed at this year’s ACORD LOMA Insurance Systems Forum.
A survey conducted in support of an upcoming report from Celent, an industry research firm, clearly indicates widespread recognition of the importance of electronic signatures in remaining competitive in the insurance industry.
When asked how the use of electronic signatures impacted their competitiveness, 63 percent of respondents in Celent’s study selected the answer, “It’s a nice-to-have today, but will soon be essential.”
A further 13 percent answered “It’s absolutely essential today.”
“These numbers reflect what we have been seeing with our insurance customers and prospects,” said Silanis Vice-President Michael Laurie, who co-presented the Web seminar with Celent Senior Analyst Craig Weber.
“For most organizations, leveraging an existing Web site is the best way to improve customer acquisition – despite the focus on using e-signatures to automate insurance applications in the field.”
LOMA also recently stated in its monthly magazine, Resource, that “e-signatures . . . have the greatest potential to help the industry, enhance information security and compliance with industry regulations.”
With many prestigious insurance carrier clients, Silanis will demonstrate both its Web and its point-of-sale e-signature applications at the upcoming ACORD LOMA Insurance Systems Forum, to be held May 20-22 at the Dolphin Hotel in Lake Buena Vista, Florida.
For these demonstrations, e-disclosure delivery demos and more, visit the Silanis Booth (#1604) at one of the industry’s largest annual events.
To register for the LOMA ACORD Insurance Systems Forum, visit the following link: http://www.acordlomaforum.org/2007/index.aspx
For a recording of the recent “E-Signatures in Insurance” Web seminar, please click here.
Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,100 government and commercial organizations, representing two million users, depend on Silanis' solutions to accelerate operations, improve service and reduce costs. The company's solutions not only eliminate the inefficiencies of paper, they provide reliable and auditable business records needed to demonstrate compliance with applicable laws, standards, regulations and policies.
Based in New York, the Association for Cooperative Operations Research and Development (ACORD) is a global, nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries. ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms.
Established in 1924, with over 1,200 member companies in over 80 countries, the Life Office Management Association (LOMA) is committed to a business partnership with its members in the insurance and financial services industry to improve their management and operations through quality employee development, research, information sharing and related products and services.
Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies (http://www.celent.com/).