The Life Insurance Direct Marketing Association has attracted major supporters for an initiative to revamp the life insurance policy purchase process.
LIDMA, Atlanta, says Genworth Financial Inc., Richmond, Va., and the U.S. operations of ING Groep N.V., Amsterdam, have agreed to use electronic signature technology into their policy processes.
Genworth and ING announced the moves in New Orleans at LIDMA’s annual fall meeting.
Encouraging insurers to adopt e-signature technology has been a major component of the LIDMA E-Process initiative.
LIDMA also is asking insurers to adopt technologies such as credit card processing and electronic delivery systems.
LIDMA, a group that represents direct marketing firms that sell life insurance and related products, notes that the group’s membership has grown about 40% in the past year.