Insurance carriers must adopt e-commerce initiatives for competitive edge, says TowerGroup

I came across this article today about research done by TowerGroup on the Insurance Industry. Here's an interesting excerpt from the article:

The Electronic Signatures in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA) opened the doors for financial services organizations to adopt electronic-commerce initiatives such as electronic signatures (e-signatures) and secure documents. According to TowerGroup, this has resulted in segments of financial services realizing decreases in processing time by as much as 50 percent and transactional cost declines of up to 75 percent. However, the insurance industry continues holding onto the traditional contract execution model.

These are exactly the problems that Middlepost solves. Are you an insurance company? Please contact us to see how you can realize these benefits.

About the report:

The TowerGroup report titled "Electronic Signature and Secure Forms in the Insurance Industry: Taking the P&C Pen to the Web," authored by Karen Pauli, senior analyst in TowerGroup's Insurance practice, explores the numerous opportunities for insurance carriers to improve operations by implementing electronic signature and secure documents technology.

eSignature Stamp Redesign

We've redesigned our signature stamps with the following goals in mind:

1. The stamp is signed live online to give the feeling of actually signing a piece of paper 
2. Noticeable, so signers know exactly what to sign and readers can easily see the signatures in the document

With that, we've settled on the following esignature stamp design.

 

And this one is a cut away of the signature area of a custom QuickForm:

The stamp on the left is waiting to be signed and the one on the right has been signed.

Let us know what you think in the comments below.