IAT Insurance Group (Raleigh, N.C.) has adopted e-SignLive by Silanis (Montreal) through integrating the capability at its member companies TransGuard Insurance Company of America and Occidental Fire & Casualty Company of North Carolina. The member companies seek through the deployment to improve their internal processes and ease of doing business for independent agents, while also delivering a better experience to the customer, according to a Silanis statement.
Prior to selecting e-SignLive, IAT’s independent agents spent much time following up with insureds to get new business and renewal applications signed, according to the vnedor. 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,” comments Jonathan Jones, AVP, IT, 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.”
The IAT companies’ challenges are common, according to the vendor. The vendor reports that the average time to complete an insurance application is 45 days, whereas services such 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, the vendor asserts.
“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,” comments Tommy Petrogiannis, CEO, e-SignLive. “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.”