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10th January 2012

Silanis Extends Lead As Enterprise E-Signature Provider For Insurance Industry

silanisSilanis, a provider of enterprise e-signature solutions with the largest e-signature deployments, announces that as of year-end 2011 the company further extends its position as the lead enterprise e-signature provider to the insurance industry.

“The last two years have been particularly significant for Silanis with respect to the insurance industry. Not only have insurance carriers recognized the value of e-signatures, they have singled out Silanis as the enterprise e-signature provider to trust for reliable electronic evidence and full regulatory compliance,” said Tommy Petrogiannis, Silanis president and co-founder. “As a result, Silanis has built the largest customer base of top insurance carriers. Our e-Sign Enterprise Platform™ processes the highest volume of e-signed documents, provides the strongest electronic evidence, and has the highest adoption rates of any e-signature solution.”

  • Largest base of top carriers: Five of the 10 largest insurance carriers in North America have standardized enterprise-wide on Silanis as their e-signature solution of choice. Silanis’ insurance customers combined write more than $100 billion worth of net premiums annually.
  • Highest volume of documents processed and largest deployments of e-signatures: The Silanis e-Sign Enterprise Platform processes more than one million documents annually for certain carriers. For all customers irrespective of industry, this number climbs to 600 million annually.
  • Most insurance products signed: Insurance products now e-signed by Silanis include auto, home, term, whole, universal life products, disability insurance, Medicare supplement and annuities.
  • Strongest electronic evidence: The electronic evidence captured by Silanis’ patented Process Replayer™ has saved carriers millions in litigation costs, and helped them avoid costly penalties and settlements. One Silanis customer recently used this electronic transaction evidence to help deflect its millionth customer dispute.
  • Highest adoption of e-signatures: Across all sales channels, Silanis customers have experienced the industry’s highest adoption. Highlights include a leading P&C insurer, who has achieved 95% adoption online and 75% adoption in their call center channel, while a leading life carrier reached 90% adoption by agents.
  • IBM’s first and only e-signature partner: In 2011, IBM awarded Silanis the IBM Beacon Award for “Best Insurance Industry Solution”. The Beacon Awards are an important element of IBM’s Business Partner recognition program. Chosen from among hundreds of nominations by leading industry journalists, analysts and IBM executives, Beacon Award winners have set the standard for business excellence, innovative technology solutions, industry knowledge and client satisfaction.

Large technology providers like IBM are making e-signatures a critical component of their industry frameworks, and they are not alone. Document generation providers like Thunderhead and HP Exstream recognize that e-signatures are needed to achieve the benefits of straight-through processing, as evidenced by a joint customer of HP and Silanis, 21st Century Insurance and Financial Services. As well, a leading provider of Life & Annuity Order Management, Client Management and Electronic Document Delivery solutions for the financial services and insurance market segments, Aplifi has integrated Silanis’ online signing service for their PolicyBox™ electronic delivery system for insurance policies via the agent channel. A leading Fortune 500 insurance holding company, Genworth’s use of PolicyBox for electronic policy delivery will support all life insurance products, incorporate electronic signatures, utilizing Silanis’ e-Sign Live, allowing for multiple signing parties, and provide indefinite storage of the policy record for later retrieval.

This entry was posted on Tuesday, January 10th, 2012 at 4:13 am and is filed under Business News, National News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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