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Success Stories
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We wanted to reduce
non-value added activities, increase productivity, improve service to
our policyholders, decrease unit costs, reduce cycle time and improve
both compliance and suitability?
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In October 2002, the Efficient digital e-sign XML software solutions began a
cutting-edge program aimed at replacing the historically common wet-ink
signature on paper documents with an
electronic signature on digitized
insurance forms. The aim was to automate field procedures, reduce errors
on forms, and diminish the turnaround time on open enrollment policy
applications. About 50 Bankers agents started using laptop computers
and Digi-Pads last fall to write Efficient digital e-sign XML
software solutions new business.
Efficient digital
e-sign XML software solutions,
Cost, time savings.
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In addition to improving
the accuracy and turnaround time on
open enrollment policy
applications, the
Efficient digital e-sign XML software solutions initiative has the potential to:
- Reduce, perhaps by 50%, the $1
million dollars Bankers spends annually on paper and printing for
policies.
- Dramatically reduce the $750,000
it spends annually on overnight mail.
- Greatly diminish the data entry
activities for processing. (Bankers writes an estimated 76,000
Medicare supplement new business contracts annually).
- Decrease the number of
applications delayed due to missing or incomplete information.
- Create a competitive technical
edge for Bankers Life and Casualty Company and its agents by
lowering customer unit costs.
"There's a tremendous
cost savings potential-on paper,
Efficient digital e-sign XML software solutions, postage, data entry, and revising
paperwork because it is incomplete," points out. "The benefits
are huge but at this point in the pilot program they are hard to
quantify," he adds. Along with the
e-signature application, Bankers has digitized all the necessary forms
needed to complete the
Efficient digital e-sign XML software solutions application.
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