Deal with Top P&C Insurer Confirms eSignLive' Lead in E-Signatures
The sixth-largest property and casualty insurance company in the US has selected Silanis Technology's Web-based electronic signature solution to enable consumers to apply for insurance online. This significant deal consolidates Silanis' status as the premier e-signature provider to this market.
Montreal, QC, September 27, 2007 — Silanis Technology, the leading e-signature provider, today announced a new Fortune 500 insurance customer, whose upcoming use of Silanis' ApproveIt® Web Server will reinforce Silanis' solution as the de facto e-signature standard for Property & Casualty (P&C) insurance.
With this latest contract, Silanis counts as customers three of the top 10 P&C insurers by premiums and assets, as rated by A.M. Best, in an industry where electronic signatures have only recently taken hold.
Capturing customers when they are ready to sign a policy, using e-signatures, has become a key to customer retention, offering an edge in this market where price sensitivity and customer service are deciding factors.
"There are so many benefits driving top insurance companies to adopt electronic signatures," said Silanis CEO Richard L. Warren.
"What company wouldn't want to take time out of the cycle and reduce "not take" ratios, while ensuring a strong body of electronic evidence?"
Silanis' extensive track record in financial services helped to secure this prestigious new customer known for its dedication to superior service and community involvement.
Instead of mailing and following up on application paperwork, this leading carrier will soon allow consumers to complete the entire insurance purchase process online, immediately e-signing regulatory documents such as coverage selection forms. The insurer will eliminate printing and shipping costs, and receive completed forms right away, with fewer errors.
Agents will spend less time following up on incomplete and outstanding applications, and the carrier will be able to avoid having to raise premiums if customers fail to return state-regulated forms, such as the Uninsured Motorist form.
ApproveIt Web Server is an advanced, ESIGN-compliant solution that enables organizations to perform business and e-contracting processes online. It requires no download whatsoever by the consumer, and allows more than one person to sign the same application.
This leading e-signature solution also provides secure transaction evidence, consisting of the electronically signed PDF documents, an embedded audit trail and a corresponding recording of all documents presented to the consumer.
Only Silanis offers such a strong body of evidence combined with an easy-to-use solution flexible enough to scale across the enterprise. The e-signature provider's' insurance customers include ANICO, GEICO, AIG and others.
Founded in 1992, Silanis Technology Inc. is the largest and most experienced provider of electronic signature solutions. More than 1,400 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.