Ratifying the e-signature legislation was an important milestone for the industry. But insurers now must prove the benefits to consumers of using e-signatures to buy insurance online.Now that President Clinton has ratified a digital signature law that makes electronic signatures legally binding, insurers are wondering how they will persuade consumers to use the technology. As the law takes effect, e-signature technology is expected to benefit the insurance industry, but only if consumers are convinced it's better than paper.

A growing number of consumers are now purchasing goods online, but sending an attached legally binding e-signature, along with the information required to buy insurance, presents renewed security concerns. Therefore, carriers that view the Web as a strategic opportunity to sell policies need to convince consumers that online insurance is a fast, convenient and safe way to buy insurance, experts say.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access