What is eSignature?

Over the years we have used pen and paper to authenticate a document with our signature. One of the most recognized signatures is, of course, that of John Hancock on the Declaration of Independence. The phrase “put your John Hancock here” has become synonymous with placing your signature on a document. In today’s digital age, the way we sign a document is changing. 47 of the 50 states now have eSignature laws allowing for the use of voice or electronic signature methods to be used in replacement of a handwritten signature.

Recently, the IIABA announced a partnership with DocuSign, an electronic signature company that provides independent agents with the ability to use eSignature.  Providing this capability gives agents the ability to compete with other direct writers.  The partnership with DocuSign will also provide independent agents:

  • Increase speed to revenue – providing a method to manage the signature process so no signature areas are missed during the signing of the applications
  • Reduce costs – prevents printing of paper for the sole purpose of signing an application, reduces additional scanning and mailing costs associated with the signature process
  • Improve customer service – clients have the ability to sign documents faster and more efficiently reducing the time it takes to complete an application; it also prevents a trip to the agent’s office
  • Reduce E&O exposure – DocuSign requires all fields to be signed before completing the signature process. If a signature is missed, it is flagged for the client to review and sign. Also, records are securely stored in the cloud for later retrieval.

Being competitive in today’s digital market will require our focus on providing customers and prospects with the ability to perform the signature process online. The DocuSign partnership with IIABA is a step in the right direction and will prove to be a vital addition to our independent agency system.

If you have questions on eSignature, please feel free to email me at grobertson@iianc.com.