The fight for acceptance for e-signatures among insurers has been a long and rocky one. Since its inception in the 1990s, a thicket of legal, technological and cultural issues have blocked the technology.
Now, with these issues largely resolved, forward-thinking insurers, going toe-to-toe with their competitors, are employing e-signatures to gain process improvements aimed at achieving straight-through processing. Foremost among the benefits realized are reduced cycle times, lower costs and higher compliance rates. While these back-office efficiencies are noteworthy, e-signatures are also poised to make in impact in the front office, as carriers push the technology into customer-facing processes such as servicing claims and customer acquisition.
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