Leverage eSignatures to Keep Up with a Tech-Savvy Consumer0 March 7, 2014 at 1:04 pm by Catherine Smola
Rapid advances in technology have brought a new level of convenience to customers. Communication channels such as e-mail, mobile web and social media are now in active use for conducting insurance business. More than ever, brokers will need to market to a tech-savvy consumer to meet their evolving demands.
eSignatures technology is a tremendous opportunity for the P&C insurance industry to improve the customer experience and realize cost savings through faster, paperless transactions. eSignatures enables brokers and customers to send, receive, sign and return contracts on their computers or mobile devices without printing or scanning a single piece of paper.
Recognizing the benefits of widespread industry adoption, CSIO commissioned the law firm Fasken Martineau LLP to produce an Advisory Report examining the legal and regulatory landscape for eSignatures in the P&C insurance industry in Canada. Available on the CSIO website, the report is a foundational document designed to educate the broker distribution channel on legal and audit requirements and to aid brokers when selecting an eSignature solution for their brokerage operation.
The report summarizes:
- Legal requirements applicable to the use of electronic signatures, electronic records and electronic delivery in the P&C insurance business across Canada
- Legal requirements necessary to design and implement an effective and compliant electronic signature and delivery process
- Identification of “Best Practices” guidelines to consider when designing and implementing an electronic signature delivery and archival process
- Glossary of common term definitions with respect to electronic signatures
Visit www.csio.com/esignatures to learn more about eSignatures and to obtain a copy of the Fasken Martineau Advisory Report.
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