Electronic Signature Solutions for Insurance

The Benefits of Straight-Through Processing

Silanis’ E-Signature Process Management solutions provide the missing link for executing transactions electronically and achieving the many benefits of straight-through processing. Benefits include:

• Decreased cycle times. Reduces the time to capture people’s signatures in documents from weeks and days to hours and minutes.
• Reduced processing errors. Minimizes errors and downstream legal and compliance risks by eliminating manual, processing tasks.
• Avoid premium hikes or policy cancellations by facilitating the return of regulated forms.
• Avoid unnecessary claims payouts due to missing or incomplete documentation.
• Cut processing costs. Eliminates the cost of paper, shipping, handling, document verification / data re-keying and scanning.
• Strengthen legal and compliance position. Deters potential cases from going to court and reduces litigation fees due to stronger legal evidence.

  "You view the benefits of increasing your e-sign percentage in terms of what impact it will have in improving customer satisfaction and improving your retention." - Craig Dierkes, Liberty Mutual

• Increased customer retention. Reduces customer drop-off rates by enabling customers to sign immediately upon completing applications.
• Improved customer satisfaction. Delivers products and services sooner to customers via faster, error-free processing of documents.
• Increased productivity. Eliminating manual processing tasks frees-up agents to spend more time with customers.
• Reduced total cost of ownership. One single platform solution reduces the time, cost and complexity of porting new applications to the system.

Find out which insurance carriers are benefiting from Silanis’ e-signature process management solutions today 

Electronic Signature Success Stories in Insurance

Silanis has been helping large insurance providers bring their customer applications online since 2002, making us the most experienced e-signature provider. Below are some of the real-world benefits our customers are seeing today and why they consider our E-Signature Process Management solutions vital to their business.

“COUNTRY Financial agents submit about 40% of eligible applications electronically with e-signatures, but we hope to reach nearly 100% early next year. The reps who are using it really like it.” - Wade Harrison, SVP of life/health operations for COUNTRY Financial

• Country Financial: ‘In good order’ applications now completed 20% faster / 40% adoption of e-signatures in agent channel.
• Blue Frog expects to reduce the time and cost to deliver insurance policies to customers by 87% and 75% respectively.
• A commercial insurer is making it easier for independent truck operators to complete insurance applications while on the road.
• A Top 10 P&C Carrier has eliminated $10 per transaction in hard costs and now sees new customer applications completed in 10 minutes vs. 52 days.
• Another Top 10 P&C Insurer has avoided over 20 costly court cases to-date thanks to the electronic evidence provided by our solution. 
• Mass Mutual considers Silanis e-signatures “a critical component of our customer experience strategy” and will use our solution to streamline life insurance applications over the web.
• Garden State Life Insurance claims they “can’t have an effective online channel without e-signatures”. The carrier has been using our solution to streamline term life insurance applications over the web since 2002.

Learn what advanced features are included as part of Silanis’ e-signature process management solutions 

Silanis’ solutions do more than just replace a ball point pen with an electronic pen. As a next-generation, electronic signature process management solution, they ensure:

• E-signing processes can be tightly integrated with core IT systems to leverage your organization’s existing investments.
• E-signing processes can be customized for your unique process, channel and customer requirements
• No gaps in straight through processing. Documents are delivered, presented, reviewed, accepted, signed, returned and verified electronically.
• Business rules are enforced from start to finish to ensure compliance with all business, legal and regulatory requirements.
• Signed documents are returned free of errors. Applications cannot be returned if a document, signature, initial, or piece of data is missing.
• Transactions are recorded from start to finish and secured using digital signature technology to produce the strongest and most reliable evidence.
• Transactions can be monitored in real-time. Visibility into live signing activities enables immediate corrective action to be taken.
• Processes and documents can be instantly updated in response to changes in business, legal and regulatory requirements.
• Electronic signatures can be deployed across all channels (agent, retail, call center and web).

Learn about solution options available for insurance carriers 

Solution Options for Insurance Carriers

Powered by our 6th generation ApproveIt® e-signing engine, Silanis offers a full suite of electronic signature solutions to meet the needs of any signing process, budget and time-to-market requirement.