E-signature functionality added to new business portal will reduce not-in-good-order rates and increase speed to completing new business.
MONTREAL, QC and ALLENTOWN, PA, February 20, 2014 – Silanis Technology, a leading electronic signature provider, and Andesa Services, a premier provider of policy administration and support services for life insurance and annuity carriers and distributors, today announced a partnership to add Silanis’ e-SignLive™ service to Andesa’s Integrated New Business Portal. Adding e-signatures to the cloud-based e-application creates straight-through processing of new business for life insurance and annuity carriers and producers.
This cloud-based offering will help distributors process new business applications in real time, rather than waiting several days or weeks for completed paperwork to arrive from the customer. The integration of e-signatures will keep the new business process 100 percent electronic, eliminating the need for the application to fall back to a manual, error-prone signing process. Enforced data validation and workflow rules ensure all signatures and data are captured forcing in-good-order (IGO) applications, greatly reducing risk to the carrier.
With correct data captured in the application and automatically passed through, the underwriting process is also expedited, compressing the overall new business cycle for the carrier. And, by offering this service in the cloud, distributors are able to get up and running on the service quickly and improve their ability to ensure great customer service.
“We are changing the way life insurance is bought and sold,” said Vince Collier, Andesa’s Executive Vice President for Distribution Services. “Distributors get a much faster way to close business and carriers gain the efficiencies of a correctly completed new business insurance application. Both benefit from offering a modern on-boarding experience for a new customer,” continued Collier.
“As the leading provider of e-signatures to the insurance industry for over a decade, we feel this partnership of two secure cloud solutions brings efficiencies to life insurance, making it easier for distributors to sell,” said Silanis Technology CEO and co-founder Tommy Petrogiannis.
Silanis’ strong reputation and brand in the insurance industry contributed to this competitive win.
Find out more about the integration of Silanis e-signatures and Andesa’s Integrated New Business Portal here.
About Andesa Services
Celebrating its 30th anniversary in 2013, Andesa Services has been a consistent leader in quality, highly efficient, integrated marketing and administrative solutions for life insurance and annuity companies and their distributors. Seven of the top 13 U.S. life insurance companies – as well as a number of the largest brokerage firms in the country – use Andesa’s suite of services to deliver superior policy administration, plan administration, reporting and illustration solutions. Andesa’s client-centric solutions combine a unique ASP/TPA business model with a modern technology blueprint and exceptionally knowledgeable insurance professionals in support of open and closed blocks of individual and group insurance. To learn more about Andesa, visit http://www.andesaservices.com/.
About Silanis Technology
Businesses of all sizes choose Silanis Technology when e-signatures matter. With more than 600 million documents processed every year, e-SignLive™ is the most widely used e-signature solution around the world. Thousands of organizations, big and small, including the leading banks, insurers, credit providers, pharmaceutical and government agencies trust e-SignLive as their platform to make business digital. On premise or in the cloud, e-SignLive delivers the best customer experience while improving legal and regulatory compliance. Learn more: www.silanis.com, Twitter, LinkedIn, Facebook and Google+.