TransGuard Insurance Company of America Inc. and Occidental Fire & Casualty Company of North Carolina, both members of the IAT Insurance Group, have implemented e-SignLive, an electronic signatures application from Silanis, in an effort to improve internal processes, ease of doing business for independent agents, and delivering a better customer experience.
Prior to implementing e-SignLive, IAT’s independent agents spent too much time following up with insureds to get new business and renewal applications signed, e-SignLive said. By automating the process using cloud e-signatures, IAT believes it will improve workflow and increase the rate of completed applications.
“We needed e-signatures to help reduce the drop-off we were seeing between the time a customer submitted an application and when we received it,” said Jonathan Jones, AVP of IT at TransGuard. “Using e-SignLive’s advanced forms and template capabilities, along with its ability to facilitate in-person or mobile signing in the cloud, provided us a way to securely sign and send applications at a fraction of the time and cost it previously took.”
The average time to complete an insurance application is 45 days without e-signatures, but services such as e-SignLive can reduce completion time to 10 minutes, Silanis said. E-SignLive has reduced new business processing from 52 days to minutes for other P&C carriers, Silanis said, and delivered millions of dollars in operational savings.
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