Herndon, Va. & Chattanooga, Tenn. — EbixExchange, a division of Ebix Inc., and SIGNiX announced a partnership in support of an annuity sales eSignature initiative presently underway. This partnership is viewed by many in the industry as continued substantiation of the leadership role played by these firms in supporting automation and increasing efficiency.
EbixExchange and SIGNiX are Web-based technology providers, and both have participated in the straight-through processing (STP) retirement-industry initiative spearheaded by NAVA Inc., the association for insured retirement solutions.
"With the partnership with SIGNiX, we're now in a position to bring about the first instance of something long dreamed of in our industry—the virtual elimination of paper-oriented administration from all annuity sales," says EbixExchange SVP Dan Delity. "We have worked long and hard to help redefine business processes and provide supporting automation in our AnnuityNet Platform throughout the entire annuity sales cycle. But where client signatures were concerned, the shift away from paper to eSignature was always a goal that could only be obtained through a strategic, far-reaching industry consensus. We are proud of the contributions we've made to the NAVA initiative, and grateful for the opportunity provided by this initial pilot."
"We are tremendously excited to help bring eSignatures to the annuity industry through our integration with EbixExchange," says SIGNiX EVP Pem Guerry. "It is only appropriate to thank all of the industry partners who have supported the special STP initiative, headed up by NAVA, and brought definition, consensus and standards to this industry effort. As a result, we now have the opportunity, in combination with EbixExchange, to bring the STP technology solution into production for the group of leading financial institutions participating in the initial pilot, and also to make it available to the rest of the industry as well."
The AnnuityNet Platform is designed to enable brokerage firms to fully automate processing of annuities by providing compliance workflow management and oversight, suitability adjudication and reporting. The platform also increases back-office efficiency by providing and correctly filling out all forms, curtailing errors and virtually eliminating "Not in Good Order" business.
SIGNiX is a hosted digital signature solution intended to provide users with the ability to electronically and legally sign documents, whether on the Internet, telephone or face to face. SIGNiX enables individuals to be immediately authenticated online, and allowed to sign documents with no special hardware or software downloads, the company says.
Sources: EbixExchange, TradingMarkets.com
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