E-signatures Reduce Drop-off Rates for Unsigned Applications
Toronto, ON (Aug. 24, 2015) – e-SignLive™ by Silanis, the e-signature choice for business, today announced that TransGuard Insurance Company of America, Inc., and Occidental Fire & Casualty Company of North Carolina, both members of the IAT Insurance Group, have integrated e-SignLive e-signatures. The insurers opted to integrate e-signature technology to improve their internal processes and ease of doing business for independent agents, while also delivering a better experience to the customer.
Prior to selecting e-SignLive, IAT’s independent agents spent much time following up with insureds to get new business and renewal applications signed. IAT realized it could improve workflow and increase the rate of completed applications by automating the process using cloud e-signatures.
“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.”
IAT’s predicament is common for insurers – without e-signatures, the average time to complete an insurance application is 45 days, whereas services like e-SignLive can reduce completion time to 10 minutes. e-SignLive has reduced new business processing from 52 days to mere minutes for other P&C carriers, and delivered millions of dollars in operational savings.
“Companies like IAT choose e-SignLive when they want to quickly equip their independent agent channel with an e-signature solution that is easy to use and secure on any device,” said e-SignLive CEO Tommy Petrogiannis. “And at the same time, their agents need the ability to do business online and on mobile tablets in order to remain competitive, and maximize productivity and efficiency, all while delivering a transformational customer experience. It’s a win-win for everyone.”
To hear more about IAT’s story and how e-signatures benefit insurers, a webcast recording is available.
About IAT Insurance Group
IAT Insurance Group is a global insurance organization made up of 6 operating divisions – each sharing the same quality standards, commitment to service and innovation, and an overall mission of excellence. IAT Insurance Group leverages its experienced leadership talent, sound analytics, proven operating platforms, and extensive risk capabilities across the entire enterprise to deliver specialized, sustainable insurance solutions for its commercial and personal lines clients.
About e-SignLive™ by Silanis
Businesses of all sizes choose e-SignLive™ by Silanis when electronic signatures matter. With more than 600 million documents processed every year, e-SignLive™ is the most widely used e-signature solution around the world. Thousands of organizations, big and small, including the leading banks, insurers, credit providers, pharmaceutical and government agencies trust e-SignLive as their platform to make business digital. On premise or in the cloud, e-SignLive delivers the best customer experience while improving legal and regulatory compliance. Learn more at www.silanis.com.
Source: e-SignLive™ by Silanis