Insurance companies are moving away from traditional, time-consuming paper processes and searching for new and innovative technologies to improve efficiencies. Digital signatures can significantly benefit insurance companies by eliminating the last paper in the business cycle. CoSign, a digital signature solution has the ability to instantly sign and seal documents and transactions electronically, enabling much shorter
application processing times, accelerated customer service, and drastic cost savings.
Typical uses for Digital Signatures in Insurance
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Underwriting - signing on the road
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Claims Processing
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Secondary Scanning of Handwritten Documents
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Approval Process
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Client records (reports etc.), and more.
Benefits of Digital Signatures for Insurance
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Automated business processes
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Significant reduction in paper use
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documents and transactions
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Transportable
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Compliance with worldwide regulations
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Supports multiple signatures and workflow
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Guarantee signer authenticity, accountability and documents data integrity & non-repudiation
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Shortened claims and application approval process Benefits
Insurance Regulations & Electronic Signatures
HIPAA (Health Insurance Portability and Accountability Act 1996) strongly recommends organizations authenticate and manage digital identities to protect the confidentiality and integrity of personal health information both on and offline.
Electronic signatures based on a mature & proven PKI (Public Key Infrastructure) technology are the best means to protect the integrity of information.And indeed HIPAA requires the protection of integrity "to corroborate that electronically protected health information has not been altered or destroyed in an unauthorized manner".