eSignLive to showcase new e-signature features and services for insurance at ACORD LOMA Insurance Forum
Montreal, QC, May 24, 2010 - Silanis Technology today announced that it will demonstrate several of its newly announced electronic signature features for insurance at ACORD LOMA Insurance Forum. Visitors can drop by Booth #539 for a personal demo of new features that will help drive adoption of e-signatures across agent and call-center channels, including support for Apple’s new iPad, SMS and voice authentication, assisted-browsing and more. “Straight-through processing is a priority for many insurers thanks to compelling ROI and adoption rates now achieved by a number of life and P&C carriers,” said Tommy Petrogiannis, CEO and co-founder of Silanis. “Many of Silanis’ insurance customers have seen a significant reduction in cycle times, costs and NIGO applications by moving to straight-through processing with our e-signature process management solutions.” According to industry analysts, 85% of life insurers will use e-applications and 41% will integrate electronic signatures to capture new business within the next two years. Moreover, 75% of all customer applications will be executed electronically five years from now according to industry analysts. Helping to drive adoption of e-signatures in the agent channel, typically the most challenging for insurers to automate, are long-overdue features, such as support for iPad and SMS and voice authentication. Silanis introduced these features last month to eliminate the need for agents to purchase costly hardware devices when capturing customer signatures electronically in in-person processes, and to clearly establish who is ‘holding the mouse’ – the agent or the customer. Earlier this month Silanis also introduced support for assisted-browsing and integration with Blue Frog SaaS services. Assisted-browsing enables call center agents to better guide customers through a Web application process over the phone by enabling agents to see what customers see on their computer screens. Integration of Silanis’ e-signature process management solution with Policy Box from Blue Frog enables insurers to invite agents to use the online services to electronically deliver policies over the Web for review and e-signing. “The new e-signature process management features that Silanis has introduced this year, combined with our new cloud delivery options, provide the missing pieces for enabling insurers to move to straight-through processing in any channel and at any budget,” said Petrogiannis. Analysts have unilaterally confirmed the key role electronic signatures play in achieving straight-through processing in insurance. Indeed, one leading analyst firm has identified e-signatures as a top-5 IT priority for insurers with the deepest and widest value, along with business process outsourcing (BPO), business process management (BPM) and predictive analysis. Another leading analyst firm confirmed that the ROI provided by e-signatures, combined with new cloud computing deployment options, is driving the increase in demand for e-signatures. The analyst firm has included e-signatures in its 2010 Top e-Business Trends report.
Silanis Technology Inc. is the leading provider of Electronic Signature Process Management solutions. The world’s largest insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, Web-based processes for e-commerce and e-government.