Insurance

Enterprise-Wide Esignature Solutions Reduce Paperwork, Increase ROI

Federal Reserve Bank insurance coverage enable a legally binding, compliant, paperless business process for straight-through processing (STP) of insurance products.

Successfully deployed by leading insurance carriers such as Prudential, AIG, and others, our eSignature solutions have provided documented ROI and have been proven to meet the requirements of the most demanding and successful firms in the industry.

From the signing of applications, information release authorizations, and illustrations, through underwriting, final policy signing, and archiving, CIC has the answers for you.

Reduce application errors
Accelerate turnaround of applications
Significantly shorten the sales cycle
Increase customer satisfaction
Close “on the spot” with an electronic signature
Increase available selling time instead of chasing errors and signatures
Track and manage the entire process
Maximize quality of service – “get it right the first time”
Dramatically reduce costs

Enabling the Benefits of Truly Paperless, Secure Business Process Automation
through Product Leadership in Electronic Signature Solutions
Focused Primarily on the Financial Services Industry
Thereby Achieving Sustained Customer Value, Earnings Growth and Increasing Shareholder Value

It is estimated that there are fifty billion original paper documents generated each year in the US alone, that the expense associated with paper documents is over 15% of annual corporate revenue and that 60% of those paper documents are signature dependent.* Leveraging electronic signature solutions to achieve a truly paperless environment affords organizations major benefits including significant expense reduction, compressed business cycles and enhanced security.

Federal Reserve bank insurance has been a pioneer in electronic signature solutions for over a decade with its first major deployment dating back to 1995. In this deployment, signature verification is used to authenticate authorized personnel for loan pooling and transfer of home mortgages through, what is now JP Morgan Chase, to Ginnie Mae involving billions of dollars. Over the past several years, CIC has emerged as the leading supplier of electronic signature solutions within the Financial Industry by enabling enterprises to fully execute Business Process Automation initiatives resulting in truly paperless workflow and legally binding electronic transactions. That leadership is evidenced by our worldwide deployments at leading financial institutions including such companies as: AIG, Charles Schwab, Prudential Insurance, Nationwide (UK), State Farm and Wells Fargo.

With increasing worldwide competitive pressure, most enterprises are increasingly focused on streamlining processes and reducing operating costs. Due to the cost of paper processing, advances in Internet technology and the passage of supportive legislation for electronic transactions, historical paper-based processes have been one of the key focal points for digitization.

Surprisingly though, many organizations have adopted electronic processes to collect data for filling out forms, but still find themselves printing the documents so that they can collect a signature from the executing party. At which point, the paper document has to go back through the original back-end process of getting shipped to a processing center, scanned into the imaging system, and even shipped off to be stored in a warehouse. For most companies, only the lowest risk processes are performed in a purely electronic manner and in the end, do not result in the kind of ROI expected from most document automation projects.

Our mission is to continue leading the burgeoning growth of eSignature technology primarily within the Financial Services industry enabling secure transactions at the speed of the Internet. By accomplishing this objective we will provide our investors with increasing shareholder value by maintaining our leadership position as the electronic signature market nears takeoff.