The Challenge
The company was looking for an immediate solution for cutting down costs generated from the abundant quantities of paper processed daily, enabling them to transform to a complete electronic environment. Once the process of transferring all pre-printed forms into electronic formats was concluded, the biggest challenge was connecting all the information collected by the agents into the legacy application and updating the insurance company main servers in real-time. This was the most important issue as the ROI calculation was base on the fact the insurance policy is being activated immediately upon its fulfillment. For that reason, the company wanted all the signatures to be collected on the spot so the process is finalized on that same occasion. The system integrator was asked to combine the electronic signed document into the headquarters main server and thus the SIGNificant signature server had to be seamlessly integrated into that same server.
The Solution
SIGNificant’s signature place holders were added to each of the electronic forms according to the pre-defined order and to the signatory required to sign. Once the insurance agent, using his laptop and a GPRS connection, picks-up a form from the company portal and fills-in the insurance policy’s terms, a menu of all required signatures is appearing and he can easily navigate to the exact location where a signature is required. The company equipped each agent with a plug and play Wacom signature tablet that is easily connected to the laptop using a USB slot.
During the signing process SIGNificant server also collect the biometric signature traits of the person signing and creates a biometric profile (out of minimum of 6 signatures). Any future change or addition to this policy will require a biometric signature authentication of the specific signatory.
Once all information and signatures are collected, the policy is being added to the main server in real-time and an approval is being accepted by issuing a policy number. The agent can then email/fax or print a customer copy, but the company only archives the original electronic format.
Benefits
Main benefits achieved:
Binding the agent to use the company products by allowing an intuitive and immediate insurance policy creation, free of paper and administrative burden
Allowing immediate insurance policy activation – and therefore funds collection
Quick ROI
Eliminate paper based processes
Avoiding problems with form handling and processing:
No losses of documents
No missing information (such as signatures, un-readable texts, etc.)
No duplications – policyholder’s ID number is on-line compared to the existing database
No need for manual and/or OCR processing
Save manual archiving and retrieval costs
Save courier costs
Secure biometric signature authentication of the insurer, the employer and the policy holder
Future insurance policy modifications will be authenticated on-line
Dynamic enroll process – during the insurance policy fulfillment
An intuitive solution requiring minimal training of sales staff
No change in signing habits for end users – sign as you always did