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Publish Date : 27-Oct-2012

Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance and financial industries, today announced a partnership with Silanis, the leader in enterprise electronic signature solutions with the largest e-signature deployments. Silanis will now become the preferred e-signature solution within Ebix’s on-demand offerings used by hundreds of thousands of brokers and insurance companies worldwide, representing in excess of $100 billion in insurance premiums annually. This partnership reflects the increased demand globally from insurance carriers and agents to improve the customer experience across all sales channels with 100 percent straight-through processing.

The agreement is transactional, whereby EbixExchange will first integrate Silanis’ e-signature solution in the new business application process within the EbixExchange CRM, as well as expand the offering to EbixExchange\'s AnnuityNet, WinFlex, LifeSpeed and AMP platforms. EbixExchange\'s CRM subscribers will be able to complete annuity and insurance new business immediately without the delay of obtaining a paper-based signature from the policy holder. Electronically signing the application will make it possible to close business in one web session or in-person visit, improving the compliance of applications by dramatically reducing not-in-good-order rates while also eliminating costly manual procedures. EbixExchange will initially roll out Silanis e-signatures to its client base including broker/dealers, banks, clearing firms, captive agents and BGA communities, with plans to expand the offering through other divisions, including P&C, international, health and BPO.

Gaining widespread adoption of e-signatures and e-policy delivery by agents has historically been a challenge in the insurance industry, despite clear recognition of the benefits and a desire to use the technology – in fact, applicant and agent e-signatures were rated the top technology initiatives for agencies, according to a 2011 Life Brokerage Technology Committee survey. Lack of adoption stems from reluctance on the part of agents to use a different way of submitting new business applications electronically for each carrier they sell. For carriers, their concern lies in underwriting business that may or may not have been originated in compliance with regulations and corporate policy. “The Ebix-Silanis partnership provides the answer with integrated, robust e-signatures as part of vertical applications they are already using, whether for new business or customer servicing applications,” said Dan Delity SVP & Global Sales Head of Ebix.

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