This article presents a proven approach to gaining widespread e-signature adoption by the field forces and consumer clients. And it demonstrates why consumer adoption of electronic signature is the last hurdle to seeing real cost savings in an automated, “no-touch” straight-through processing (STP) world.
How do we impact change on the business process?
The change the industry is seeking is to transition from a primarily paper-based, ink-on-paper signature process to one that is fully electronic. The goal is for the end user to adopt and adapt to feeling at ease with an election of the electronic signature process.
Electronic signature within the insurance industry has seen some pockets of implementation and usage that have shown there is real ROI value, but these success stories have been limited to large wire house, process controlled implementations. And even with this process control, all have shown to be lacking in their successful end user adoption. And although the reasons vary, the most common are lack of placing the agent and end consumer at ease with the process and lack of usability.
What Your Peers Are Reading
Keep it simple.
If you want end clients to opt-in for electronic signature, you must make the e-signature consumer experience as easy and familiar as the paper process they are used to today. This is now easier to accomplish with the recent introduction and overwhelming agent adoption of tablet-based devices that enable the capture of signature electronically. Prior to tablet devices, the only real face-to-face option was to implement hardware based solutions, which for most distribution demographics, was impossible.
To obtain broad end user adoption of e-signature, it is best to not present an overly engineered, compliance and risk focused, multiple-step process leveraging email and consumer challenge questions. These processes are unfamiliar to both the client and agent and open up additional points for the client to express concern and/or to change their mind about the sale. That being said, agents do not always get face-to-face time with their clients, and business at times requires email based identification and click-to-sign process.