Slides from the March 10, 2016 eSignLive e-Signatures Summit for Insurance Executives. Presentation on e-Signature Adoption Trends in Insurance Industry

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Andrea Masterton, Marketing Director, eSignLive
E-Signature Adoption Trends

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eSignLive Carrier Adoption Trends
Property &
Casualty,
51.5%
Life, 25.8%
Other, 22.7%
% Adoption by Segment
2010 2011 2012 2013 2014 2015
Insurance Companies - New E-Signature Projects

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Improve the Customer (and agent) Experience
Sign anytime, anywhere, on any device
Make it “easy to do business”
Strengthen Compliance / Legal
Enforce business rules
Avoid errors and omissions
Capture detailed audit trails
Improve Efficiency & Productivity
Eliminate paper chase
Reduce processing time
Reduce cost
Drivers for E-Signatures in Insurance
A leading insurer reduced
NIGO rates
by 66 percent using e-
signatures.
One eSignLive customer has
avoided more than 1 million legal
disputes
using our comprehensive electronic
evidence.
New business processing time
reduced from
52 days > 15 minutes
Avg time to complete insurance
application:
45 days (on paper)
10 minutes (w e-sign)
Auto Insurance Application

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• New policy applications
• Term, whole, annuity
• Part 1 forms
• E-Policy delivery
• Disclosure delivery
• Beneficiary change and policy
servicing
• Disability & LTC
• Agent licensing and appointment
• Premium payments
OtherP&CLife
• New policy applications
• Options forms
Un/Under-Insured Motorist
• Auto, home, umbrella,
commercial
• Renewals
• Disclosure delivery
• Policy servicing
• Agent licensing and appointment
• Claims
• Agency specific forms/privacy
policies
• Employee/Group Benefits
• Health insurance claims
• Internal processes – HR, legal,
procurement
• Vendor contracts
• Re-insurance
Top E-Signature Use Cases in Insurance

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“Are consumers
ready?”
“Will carriers accept
e-signatures?”
“Will agents adopt e-
signing if we make it
available?”
What’s holding us back?
e-signatures
e-signatures

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Agent Adoption – 438% increase in past 12 months
"Three, four years ago I would have a room full of paper - literally. Now, you walk into
my office and you may see 10 sheets. In conjunction with eDocs and other
technologies, we need very little space to conduct business.“
Jay Sproule, Sproule Insurance
“Embrace e-signature technology. That’s the way our industry is moving. If we are not
focused on ease of doing business and providing and outstanding client experience,
then we risk losing those clients to another broker who is providing a seamless sign-up
process.“
James Archer, Knight Archer Insurance
“The adoption of emerging technologies can increase efficiency and create more
effective relationships with our customers. We recently started using e-signatures
and are looking forward to adding another tool that will facilitate a mores seamless
customer experience.“
David Hare, Petley-Hare Insurance

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Customers are ready! What we’re seeing by use case
100%
Internal Signing
99%
Web Channel
95%
Retail Channel
99%
Call Center
60%
Independent Agents
75%
Captive Agents
MediatedUnmediated
Adoption across channel

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QUESTIONS?