Streamline Insurance documentation from end-to-end with SignDesk’s documentation workflow automation - Digital Stamping, eSign workflow, and the eMandate
In 2016, the Insurance Regulatory and Development Authority of India (Issuance of e-Insurance Policies) Regulations, 2016, made provisions for the issuance of electronic policies and submission of electronic proposal forms for insurance policies. According to the provision, when the prospect furnishes the details in the e-proposal form, it shall carry their electronic signature.
In addition to these forms, the Insurance industry is highly dependant on signatures for processes like executing approvals, disclosures, financial contracts, claims processing, endorsements, communications, etc. Processes as such are typically delayed due to the requirement of physical signatures and the tedious process of procuring stamp paper.
Use online forms for pre-authorisation and collect all the required signatures using eSign. Insurees, other parties involved in the claim process, and representatives from the insurance company can sign forms from anywhere, at any time using eSign.
Reduce the turnaround time for documentation processes as multiple documents can be signed digitally at once. Issue new policies, approvals, endorsements, internal and external communications, etc, faster using the bulk signing feature.
Use standardised templates for contracts/policies, communications, disclosures, etc. Create standardised professional documents with ease.
EMI payments for policy premiums can be automated instantly using the eMandate. Invite customers to authorise the eNACH form using their Netbanking login.
Review all documents on a single platform. Receive notifications, send reminders and alerts to signatories, and track the status of signatures using the dashboard.
Pay online Stamp Duty on documents such as contracts and agreements to make them legally valid.
Ensure better security and a lower risk in leakage of confidential data as documents will be shared directly with the intended recipients.