Silanis Technology announced its electronic signature process management solution has been integrated with PolicyBox, a software-as-a-service (SaaS) offering from Blue Frog.
The integration means insurance policies can be delivered to customers electronically over the Web for review and e-signing. By moving to straight-through processing, Blue Frog estimates that the time and cost to deliver policies to customers will be reduced by 87 percent and 75 percent, respectively
"With over 10,000 agents, broker dealers, banks and agencies using our solutions, Blue Frog understands the issues carriers and their distribution channel face when getting customers to sign and return policies," says Roy Goodart, vice president of sales and marketing at Blue Frog. "Blue Frog's PolicyBox service makes the process significantly faster, less costly and more convenient."
Rather than mailing or hand-delivering documents in paper format, customers receive an e-mail with a link to the agent's personalized Web page where the insurance policy and supporting documents can be reviewed and signed electronically within the customer's Web browser using a simple click and sign method.
Goodart expects the process to take three to five days vs. the industry average 23 days, while saving the carrier $50-$60 per policy and reducing the drop-off rate that typically happens during this stage of the transaction.
For more information on electronic signatures in property/casualty insurance, click this Tech Decisions article.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
