Insurance Solutions

A Cross-Channel, E-Signature Solution for Insurance

2009 saw a substantial rise in the number of P&C, life and auto insurance carriers adopting electronic signatures to eliminate the inefficiencies of paper from their customer application processes. Insurers recognize that straight-through processing is essential for closing new business quickly and providing superior customer service in an increasingly competitive, costly and risk-averse industry. Silanis’ next-generation, E-Signature Process Management solution addresses these challenges while providing a single platform solution that scales across all channels and lines-of-business - and enforces business, legal and regulatory requirements to mitigate risk.

Achieve Straight-Through Processing

Silanis’ solution provides the missing link for executing transacations electronically and achieving the many benefits of straight-through processing.

Increase back-office processing efficiency by eliminating manual preparation, verification, scanning and indexing
Improve customer experience: more convenient and faster turnaround
Reduce costs by eliminating documents-in-transit expense
Reduce NIGO applications by ensuring signatures and forms are complete
Increase agent productivity by reducing time spent chasing paperwork
Strengthen legal and compliance position by providing more control, visibility and auditability of process
Avoid premium hikes or policy cancellations by facilitating the return of regulated forms
Avoid unnecessary claims payouts due to missing or incomplete documentation.

Who’s Using E-Signatures Today

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 solution vital to their business.

A Top 10 P&C Carrier has eliminated $10 per transaction in hard costs and now sees new customer application 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 consumer insurance applications over the web since 2002.
Other: Click here to see who else is using Silanis’ solutions in insurance, including GEICO and ; Liberty Mutual, and to read case studies in your industry.

Solutions for Insurance:

Yesterday’s E-Signatures Aren’t Enough

Moving highly regulated, insurance transactions into an electronic environment without introducing risks to the process is not a simple task. Processes differ between products, states, channels, and the people involved, resulting in hundreds of possible variations. Adding complexity to the challenge is the need to ensure that electronically signed applications provide strong evidence and that the chosen technology solution can be scaled across all sales and service channels, while ensuring high user adoption and customer satisfaction. Yesterday’s electronic signature solutions do not support these complex requirements.

Download the article “How to Mitigate the Top 6 Risks of Adopting
E-Signatures"

E-Signature Process Mangement is the Answer

ApproveIt® Web Server is a next-generation, E-Signature Process Management solution that transforms any paper-based signing activity to a fully electronic, web-based transaction. Version 3.0 is a response to evolving demands for a more comprehensive e-signature solution that addresses the need for greater compliance, control and transparency of insurance transactions. The solution goes beyond simple e-signing to:

Execute transactions from beginning to end. This includes everything from setting up e-transaction processing rules and preparing documents, to presenting documents for review and signing and delivering final copies to all parties and back-end systems.
Produce stronger legal evidence and auditing capabilities than with paper by recording and reproducing the entire electronic transaction, including all web pages viewed and actions taken.
Provide a flexible, enterprise platform solution that can be scaled quickly and cost-effectively across all lines of business and channels, while meeting the unique requirements of each transaction environment.
Provide the most user-friendly methods for participating in an electronic transaction to ensure high user adoption and a positive customer experience.