There are no more excuses for avoiding e-signatures, according to a recent report from Novarica. In its report, “E-Signatures Planning: A CIO Checklist Executive Brief,” the research firm writes that the technology, legal framework and customer expectations have all reached a point where carriers need to proceed in order to effectively, and cost-effectively, compete in the current marketplace.

Leading carriers have moved ahead in this space, others risk being left behind, which carries financial, operational and brand related risks, according to the report. Echoing this statement, especially in the life sector, Celent released a report earlier this year that concluded the proportion of life insurers now offering e-signatures in their dealings with customers or agents has increased to 74 percent from 47 percent over the past five years.

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