Silanis International Limited New Contract Win (3911N)
28 Septiembre 2012 - 1:02AM
UK Regulatory
TIDMSNS
RNS Number : 3911N
Silanis International Limited
28 September 2012
RNS Release 28(th) September 2012
Silanis International Limited (the "Company") Announces Silanis
and Leading Insurance Service Provider Partner to Further
Straight-Through Processing for Agents and Carriers
The Company (AIM: SNS) announced today a significant partnership
between Silanis Technology Inc. ("Silanis") and a leading
international supplier of on-demand software and e-commerce
services to the insurance and financial services industries.
Following a competitive selection process, Silanis will now become
the preferred e-signature solution within the provider's on-demand
offerings used by hundreds of thousands of brokers and insurance
companies worldwide. 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.
Under this transactional agreement, the provider will first
integrate Silanis' e-signature solution in the new business
application process, allowing its subscribers to complete insurance
applications 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. The provider 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
internationally.
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 represent. For
carriers, their concern lies in underwriting business that may or
may not have been originated in compliance with regulations and
corporate policy.
E-signatures are now considered a foundational technology,
essential for automating customer-facing transactions. Customers
are demanding the convenience of completing an insurance
transaction electronically through their channel of choice, and
rewarding carriers and agents that give them the option to do so.
And with the majority of e-signature transactions launching from
mobile devices by 2020 as per Forrester, carriers are focused on
leveraging this new sales channel specifically for their
agents.
"We believe this partnership is the key to gaining widespread
adoption of e-signatures within regulated complex distribution
channels like the insurance industry," says Silanis CEO and
co-founder Tommy Petrogiannis. "When electronic signatures and
e-policy delivery are offered as a tightly integrated solution as
they are now thanks to this partnership, both carriers and their
producers win. Coupled with our unique electronic evidence,
unprecedented customer insight and visibility, the result is a
transformational customer experience," continues Petrogiannis.
About Silanis
Silanis is the most widely used e-signature solution in the
world, responsible for processing more than 600 million documents
annually. Founded in 1992, Silanis' solutions e-Sign Enterprise(TM)
and e-SignLive(TM) enable thousands of organizations, including
four of the top 10 North American banks, eight of the top 15
insurance companies and the entire US Army to accelerate business
transactions, improve customer experience and reduce costs while
improving compliance with legal and regulatory requirements.
Silanis provides the most flexible deployment options with its
on-premise, cloud and SaaS e-signature solutions, eliminating
manual, paper-based processing and enabling e-commerce and
e-government transactions to be electronically executed from start
to finish.
For further details, please contact:
Silanis International Limited
Tommy Petrogiannis, Chief Executive Officer
www.sil-intl.co.uk
Tel: + 1 514 337 5255
Canaccord Genuity Limited
Simon Bridges
Tel: +44 (0)20 7523 8000
This information is provided by RNS
The company news service from the London Stock Exchange
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