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Insurance and the Digital Signature Solution

Heavily regulated and document loaded, the insurance industry has been one of the fastest adopters of electronic documentation. With all the applications, policies, claim forms, approvals, and invoices that involve each and every customer, insurance companies greatly benefit from today’s electronic and automated workflows, in particular a digital signature solution.

ComSignTrust™ Digital Signature Solution

With ComsignTrust™ Desktop Professional the insurance industry now has the ability to implement more efficient and automated work processes.

With the ComSignTrust™ esignature Mobile tablet-based solution insurance agents and clients can conduct meetings off premises and fill out forms and other insurance-related paper work in a highly secure and effective way, without the need to carry a single paper document. The client fills out and reviews the entire document upon the tablet, signs it and then lets the agent review the content, whom ensures that the document was filled out correctly. In the case that it is found to be error-less, the agent digitally signs and seals the document, files it digitally and simultaneously sends it to the client’s email.

When so much of the correspondence going out to customers must be approved and signed, implementing ComSignTrust’s automated digital signing solution addresses more than just bottom line savings, it also provides a checks and balance system through time stamping and logging features, and reduces the risk of non-compliance and human error with audit trails, logs and tamper-free documents.

ComSignTrust™ automated digital signature solution can slash the costs associated with your documentation processes, while creating impact, efficiency, and substantially reducing your environmental footprint.

ComSignTrust™ addresses all of your signed documentation needs including:

  • Policies
  • Contracts, Applications, Claims
  • Correspondence
  • e-Invoicing
  • Registered Mail
  • Digital Archiving

Business Case

Research shows us that on average a manually, paper-based document costs approximately $5.00 per document to produce. That figure includes the complete lifecycle of a document:

 Production – the cost of paper, toner and ink
 Handling – stamping, sending, copying, filing, transporting
 Storage – scanning and archiving
 Disposal – shredding and burning

But that is only part of the picture. Sometimes indirect costs can be even greater:

 Time consuming and drain of resources
 Potential for human error
 Risk of fraudulent activity
 No way to track conformation to regulatory compliance

In real terms, that means an organization with 200 employees, who will sign on average 500 documents annually will produce 100,000 documents. At an average cost of $5.00 per document, that’s $500,000 annually. The math is clear; automated digital signing can save you hundreds of thousands of dollars annually.

Last updated: 09/08 | Year: 2014 | © Copyright – ComSignTrust™

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