Silanis Removes Final e-signature Adoption Hurdle in the Insurance Agent Channel

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Silanis Technology today announced two new authentication features for its e-signature process management solution that will remove the final hurdle for deploying and adopting e-signatures in the insurance agent channel, and eliminate the need to purchase costly hardware devices. Silanis’ ApproveIt Web Server now provides SMS text and voice authentication to provide an extra layer of security for capturing intent in ‘click-to-sign’ processes.

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Insurance carriers are reluctant to assume the cost of buying signature capture pads -ApproveIt Web Server’s new SMS text&voice authentication features solve the problem-providing additional, software-based methods for identifying users in e-transactions.

Silanis Technology today announced two new authentication features for its e-signature process management solution that will remove the final hurdle for deploying and adopting e-signatures in the insurance agent channel, and eliminate the need to purchase costly hardware devices. Silanis’ ApproveIt Web Server now provides SMS text and voice authentication to provide an extra layer of security for capturing intent in ‘click-to-sign’ processes.

“Proving that a customer has electronically signed a document can actually be more challenging in a point-of-sale environment than it is over the Web,” said Tommy Petrogiannis, CEO and co-founder of Silanis.

In a self-serve, Web-based transaction, customers log into the application using their personal credentials and are in sole control of when and what documents they sign, explains Petrogiannis. This is not the case when processes take place in-person because agents must share their laptop or desktop computer with customers, raising the question of who actually e-signed – the customer or the agent?

Up until now, the only way to get around this problem was to equip every agent with a costly hardware device, like the ones that are used by many courier companies today, to capture customer’s handwritten signatures electronically.

“In our experience, insurance carriers and agents are reluctant to assume the cost of buying, deploying and managing signature capture pads,” said Petrogiannis. “ApproveIt Web Server’s new SMS text and voice authentication features solve the problem by providing additional, software-based methods for identifying users in electronic transactions.”

With SMS text authentication, the agent simply enters the customer’s mobile number prior to e-signing. A unique PIN is then automatically generated by the application and sent to the customer’s cell phone as a text message. The agent hands over their computer to the customer who then must enter the unique one-time password in order to continue the e-signing process. The authentication process is captured as part of the electronic evidence and is stored with the e-signed documents and audit trail.

The voice authentication feature, on the other hand, displays a Web page that prompts the customer to record a verbal statement, confirming that he or she has reviewed all documents and agreed to the contract terms. Once the voice statement is captured, the customer then ’clicks-to-sign’ using their mouse. These two methods of out-of-band authentication can be used separately or in combination to help reduce the risk of fraud or repudiation.

“Getting agents to move to straight-through processing has been a challenge for carriers because if the e-application and e-signing process isn’t easier than the traditional pen and paper method, or if it requires agents to incur extra costs, they simply won’t make the switch,” said Petrogiannis. “By eliminating the need for costly signature capture pads and making it extremely easy to authenticate customers as part of the Web application process, ApproveIt Web Server removes the final hurdle for adopting e-signatures in the agent channel and making straight-through processing a reality.”

About Silanis
Silanis Technology Inc. is the leading provider of Electronic Signature Process Management solutions. The world’s largest insurance and financial services companies, major government agencies, integrators and service providers depend on Silanis to accelerate business transactions and reduce costs while improving compliance with legal and regulatory requirements. The company’s electronic signature platform, ApproveIt®, is an enterprise-class e-signature process management solution that transforms paper-based business transactions to all-electronic, Web-based processes for e-commerce and e-government.

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Mary Ellen Power
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