How Digital Signature Technology Improves Compliance in the E-Insurance World

Mary Ellen Power, October 11, 2013

How does digital signature technology improve compliance in the e-insurance world? Silanis’ Vice President of Product Strategy and co-founder, Michael Laurie, alongside Gregory Casamento of Locke Lord LLP, discussed just that at this week’s annual conference for the Association of Insurance Compliance Professionals in Toronto. With the conference focused on U.S. compliance in insurance, Michael and Gregory spoke about potential compliance issues specific to the e-insurance world, as well as how to mitigate these through a straight-through process using electronic document delivery integrated with digital signature technology.

I had a chance to catch up with Michael and discuss some of the top take-aways from the event. Here’s what Michael had to say:  

MP: What were the top questions that attendees raised during your session?

ML: There were three themes that came up in various questions:

  • How does digital signature technology work and how does it differ from an electronic signature?
  • How does one make sure a person is authorized to sign in a commercial insurance transaction?
  • How do we manage to capture the electronic evidence if the web pages and forms are being updated on a regular basis?

These have become common questions, which are addressed in a very popular whitepaper called Electronic Signature Security.

MP: What, in particular, is it about e-signatures that interested the compliance community?

ML: Their interest stemmed from two places: how to improve legality and compliance with e-signatures and e-delivery, as well as how to implement a better customer experience through the use of technology.

I would like to suggest anyone looking for similar information to read the one of the most popular insurance documents downloaded this year – the Top 10 Legal Requirements for Insurance Agents & Companies Implementing E-Signatures.  

Thanks to Michael for catching up with me. If you’re interesting in learning more about how digital signature technology helps with compliance in insurance, check out these resources:

How Silanis Meets the Guidelines for E-Signatures and E-Delivery in the Insurance Business

E-Signature Strategies for Insurance Carriers