(Interior of Church of Our Lady Immaculate, in Guelph, Ontario. Photo credit: Theyenine.)
The Co-operators (Guelph, Ontario) has selected Silanis Technology’s e-SignLive cloud-based e-signature service in response to demand from both advisors and customers for a more convenient and easier way of doing business. The Co-operators will use the Silanis e-signature capabilities for direct mail for consumers and life insurance for advisors.
“Our goal is to make it as easy as possible for clients to do business with us, and providing the option of electronic signatures is one way we’re doing that,” comments Alec Blundell, VP, Individual Life Insurance, The Co-operators. “e-SignLive has allowed us to meet the requirements of two very different business processes without having to invest in the typical upfront infrastructure and resources for an on-premises solution.”
The Co-operators will deploy eSignLive through its CUMIS affiliate. Through the license for the Silanis cloud-based service, members of credit unions associated with CUMIS will be able to e-sign their life insurance applications online. Recognizing current customers’ expectations, the carrier opted to update its direct mail service to offer members a personalized URL to an online portal, prepopulating the life insurance application with the customer’s information, and adding a click-to-sign e-signature process for easy and secure online submission, according to Silanis. The Co-operators anticipates that using the online portal in conjunction with e-signatures will offer a streamlined approach that should result in higher conversion rates on applications while targeting a younger demographic.
Simplifying Life Insurance Sales
Nearly 500 Co-operators advisors will be able to use Silanis eSignLive to complete and e-sign life insurance applications from the convenience of the customer’s home or location of choice, with the capability to finalize a sale in a single meeting, Silanis reports. Electronic submission will also eliminate the need to fax applications to headquarters. The vendor says that The Co-operators will gain internal efficiencies by not needing to match ink-signed documents with partial electronic data. The electronic submission process will also enable the more efficient indexing, storage and retrieval of documents, the vendor adds.
The Co-operators choice of e-SignLife was influenced by the Silanis Technology service’s ability to help the insurer meet Canadian compliance requirements, as well as gather the extended electronic evidence and audit trail the insurer requires, according to the vendor. The Co-operators was also reassured by Silanis’ expertise in insurance and for providing the strongest legal protection with its combined document and process evidence generated as part of the signing ceremony, a vendor statement asserts.