Less time to settle a claim
Reduced touchpoints per policy
Increased customer satisfaction
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Request a DemoThe government regulation acknowledges the legitimacy of electronic signatures, electronic delivery and electronic archival to satisfy the demands to have written signatures and documents. eSign also mentions explicitly that it applies to the insurance industry.
To qualify as an enforceable eSignature, there should be proof of the signer’s intent to perform or approve the contract. This is usually achieved by requiring the signer to take affirmative action, like typing their name or drawing their signature using a computer mouse or touchscreen.
Digitizing internal processes helps in reducing operating expenses and enhances employee efficiency. Additionally, you minimize the risk of not having a signature on the policy’s conditions, preventing paper use on the customer’s part.
Generally, the major networks through which insurance companies have obtained and responded to their customers have been, and in most cases still are, direct sales and telephone. They are digital customers, and therefore the approximation to them should occur throughout platforms that enable 100% online procedures. However, today it is impossible for any business, including insurance firms, to include an online sales network to offer a complete service to new digital customers.
For that reason, insurance companies must offer digital experiences to meet the expectations of these customers. And to provide an entirely digital shopping experience, insurance companies need to integrate eSignatures.
As an insurance company, you must process agent and customer forms and documents consistently. This requires tiresome paperwork and a significant amount of monitoring, reporting, and release operations to keep everything efficiently processed and equipped on and off the desk. With MSB Docs, you can sign documents online, do online agreement signing, and process insurance files for verification and approval, reducing your manual efforts.
MSB Docs is the most convenient and smoothest means of uniting all the company practices you undertake as an insurance service provider. All of which is backed by expert tools and resources put into a premium cloud framework being managed with excellent protection.