In working with insurance companies that are taking their business processes on line for better origination and servicing, nothing is more important than nailing the application process down in such a way that anyone who wants to buy insurance can get started and complete their application as quickly and seamlessly as possible. The best way to make that happen is a single online session that starts the process in real-time and doesn’t bog down for printing, mailing followed by receiving, manual workflow processing, scanning and callbacks for errors or missing data.
Of course there are other benefits to taking application process and completing it online. An applicant, online the carrier or selling agent has also done their part in going Green by eliminating the need to print, fax, ship, and store paper. Not only helping the environment but saving money by reducing storage and operating costs incurred through paper based systems. However an equally important, and often hidden, issue for the carrier and agents are all of the potential applicants who opted out of a paper driven process because it was too cumbersome, slow, or those that intended to complete the paper form but never got around to it. These potential customers either never generate revenue or will generate revenue for a company whose online processes are more customer friendly.
So how can eOriginal’s SmartSign Web help insurance providers to streamline their processes?
Enable customers to electronically sign the application with an online web application
Manage all workflow, routing, and vaulting procedures of the application process through SmartSign Web’s customization options.
Reduce your organizations dependency on paper, saving you time and money.
Reduce errors and incomplete documents greatly reducing any NIGO applications.
HIPAA and ACORD compliant security and data management
Bind voice signatures to applications for faster processing and payment authorization.
Increase revenue by allowing your customers to quickly review, eSign, and receive a copy of their policy and additional forms.
To learn more about how we may be able to streamline your processes please contact me directly at 410-625-5147 or just us a question in the comments and I’ll be sure to promptly respond.
eOriginal has seen a significant increase in the number of small businesses wanting to learn more about how our eSignature software can help their businesses grow by shortening sales cycles, eliminating paper, and reducing the amount of resources needed to manage their contract process before and after they’ve been executed.
So to limit the amount of resources needed to get small businesses implemented with eSignatures and secure, compliant records management we’ve created new eSignature packages specifically for those businesses that need/want the same level of security, legal compliance, and flexibility for their eSigned documents as large corporations demand.
A few benefits for small businesses include:
Get up and running having your agreements eSigned within 24-48 hours
Improved Signer verification with email and one-time user verification code.
Mobile signing for mobile use on Window Mobile IE and iPhone Safari.
Workflow Management Routing, automated notifications, automated status transitions, expirations.
eSignature Processing digitally signature binding and document tamper-seal for proof of non-repudiation
Enterprise Datacenter with SAS-70 Type II, PCI-compliant datacenter, fully redundant, 24/7 security and operations.
In the next few weeks we’ll be highlighting a few of our clients and growing small businesses that are using our electronic signature tools.
Partnership will revolutionize the parts delivery process through real-time, web-based systems that streamline and automate routing, tracking and delivery
EAU CLAIRE, WI and BALTIMORE, MD (PRWEB) May 11, 2010 – The founders of Elite EXTRA, a revolutionary new routing and tracking tool, and eOriginal Inc., a leader in electronic signatures, vaulted repository and electronic transaction solutions, have partnered to offer point of delivery electronic signature capture for the automotive parts industry.
Jim Ward, President of Extra Trax, the company that owns Elite EXTRA (Extreme Routing and Tracking Application), recognizes the electronic signature solution is a critical add-on that will benefit Elite EXTRA’s customers by providing a secured electronically signed document as proof of delivery or service, creating the option for a paperless system for customers who choose it.
“This is the first routing and tracking system that combines automated optimal routes at an affordable price point with real-time electronic signature capture,” said Ward. “Together these tools will revolutionize the way auto parts are delivered by creating efficiencies and reducing waste for customers.”
Jim Tebay, eOriginal’s Vice-President of Business Development, said “We’ve played a key role in automating automotive finance with our solutions, so we see Elite EXTRA’s real-time solution for parts delivery as a natural complement and one that provides a fast return on investment for both dealers and parts suppliers.”
Electronic signature capture, embedded into a web browser on the driver’s cell phone, will be provided at the point of delivery, to capture the signature from the person receiving the order. The signature will then be stored for the customer with the pertinent details of the delivery, invoice or work order, and accessible in real-time via Extra’s customer web portal.
Because both the Extra Trax and eOriginal processes are aimed at automating and streamlining operations for deliveries, the two complement one another in helping businesses to operate efficiently, reduce staff and cut overhead operating costs.
Elite EXTRA has a proven return on investment (ROI) of 15 percent through route optimization and driver and dispatcher efficiencies, and signature capture will further augment that ROI by reducing the amount of time staff spend in searching and accessing paper documents.
“We did an extensive search for an electronic signature solution to help streamline our customers’ operations in a manner that is easy, efficient, and secure,” said Ward. “eOriginal has been wonderful to work with, and through integration offers a complete, cost-effective, cutting-edge solution for customers wanting digital, web-based signature capture.”
Elite EXTRA, which was launched in 2009, is a web-based system that creates automated optimal routes, tracks drivers, and provides an estimated time of arrival (ETA) for customers. It uses the latest in open source geospatial technologies to streamline the automotive parts delivery system. Advanced geospatial algorithms calculate delivery routes and route orders, helping dispatchers to determine the optimal routes for their drivers. It is a powerful, yet lightweight and cost-effective solution for all industries that transport goods or services.
The first release of the system was developed exclusively for the auto part delivery industry with extensive input from pioneers in the logistics and auto parts industries. It costs less upfront, and is less per driver than comparable software as a service (SaaS) packages.
Extra Trax, LLC is a logistics and routing subsidiary of Applied Data Consultants, Inc. (ADC) that is targeted solely at providing customized routing and delivery tools for the logistics industry. Its headquarters are in Eau Claire, Wis.
About ADC
Incorporated in 1996, ADC provides customized web solutions, application development, enterprise-wide consulting and mapping services. ADC now has 40 employees between its Eau Claire headquarters and its Omaha, Neb. and Denver, Colo. branch offices. For more information about ADC, please see: www.adc4gis.com
About eOriginal
eOriginal, Inc. provides advanced electronic signature, vaulting and electronic transaction solutions which are tamper-sealed, auditable and legally enforceable. eOriginal SmartSign® enables compliance with the eSignature requirements of the ESIGN Act, UETA and the UCC. eOriginal has provided secure and verifiable execution, delivery and management of commercial loans, leases and other financial industry documentation for over a decade. eOriginal customers, including top–tier financial institutions, have processed millions of electronic signatures on millions of documents without a single system error or legal challenge.
To learn how eOriginal can streamline your business processes, visit www.eoriginal.com or call 410-895-7699. You can also follow eOriginal on Twitter @eOriginal.
Wells Fargo Funding has approved eOriginal as an Authorized eSignature and eDelivery Vendor. eOriginal’s SmartSign Web can be used by brokers, real estate companies and correspondent lenders to manage borrower’s electronic disclosure statements. Using eOriginal’s eCore® platform, lenders can have borrowers electronically review, sign and return disclosure documents from the eOriginal hosted signature service or from eCore embedded within their own website. SmartSign Web® can be integrated with existing loan origination systems to automate the eDisclosure process. This ESIGN and UETA compliant delivery capability not only eliminates paper from the process, it speeds the closing cycle while eliminating costly rework and improving regulatory compliance.
In recent years, having documents signed electronically and moving to a fully automated process has not just become extremely popular; it has become a necessity for most businesses to efficiently operate. I have had the privilege of speaking with many businesses, large and small, who are ready to create a simple straight-through process that not only cuts overhead cost, but creates an easy, efficient, user friendly experience. eOriginal SmartSign® not only meets these expectations, it exceeds them, time and time again.
One common misconception that I often run into is once documents have been signed electronically in a secure, legally compliant manner, the process is complete. Well guess what, Ladies and Gentlemen, that’s not exactly correct! I am notoriously known for being short, simple and straight to the point, so here are a few questions to consider when making your decision to go paperless;
Are my electronic documents secured at all times?
Who has access to my documents and personal or proprietary information within?
Will my documents hold up in the court of law?
If my documents are challenged legally, how can I produce legally enforceable and admissible documents that have not been compromised?
If my electronically signed digital assets hold any monetary value, will I be able to offer those documents in the secondary market?
If I am working with a company or an individual who require paper originals, does my system meet all requirements to create an Authoritative Copy?
For fifteen years eOriginal and our eCore® platform have helped businesses to answer these questions, not only through the front-end signing process, but through our trusted repository which allows businesses to securely manage their documents throughout their entire lifecycle. eOriginal’s electronic signatures processes have been tried and tested, taking the burden of trying to answer these questions off of your shoulders.
Electronic Signatures Reduce Closing Delays and Enable Straight-Through Processing for Loan Officers
Mission Hills Mortgage Bankers, a California-based mortgage bank, made a proactive initiative to avoid a three day wait for the delivery of disclosure documents that would have been imposed by last year’s Truth in Lending Act (TILA) amendment known as the 3/7/3 Rule. To prevent this ruling from delaying the loan origination cycle, increasing costs and potential closing delays, Mission Hills Mortgage Bankers’ IT staff began a competitive evaluation of web-based electronic signature solutions that would enable loan officers to use straight-through processing. Mission Hills Mortgage Bankers selected eOriginal SmartSign® on the basis of compliance, ease of integration and total cost of ownership.
“The implementation went in without a hitch”, notes Collin Cobb, Mission Hills Mortgage Bankers’ Marketing Manager, who oversaw the training of loan officers. “Mission Hills Mortgage Bankers makes a big effort to set itself apart from its competition by combining our proven business practices with new innovations.”
“Mission Hills Mortgage Bankers joins an impressive group of financial services firms that went through a rigorous selection process before selecting eOriginal because of our compliant e-signing tools and vaulted repository services to better manage the lifecycle of the electronic transactions,” notes Steve Bisbee, eOriginal’s President and CEO. Increasing regulatory, security and audit compliance initiatives, and the desire to protect the asset value of transactions that might enter the secondary market, make eOriginal a strong player in risk management.
About Mission Hills Mortgage Bankers A direct lender originating loans throughout the nation, Mission Hill Mortgage Bankers is a division of Gateway Business Bank. Founded in 1969, Mission Hills Mortgage Bankers is one of the top privately owned mortgage banking firms in the country. For additional information about Mission Hills Mortgage Bankers, go to http://www.missionhillsmortgage.com/, or email inquiry@mhmb.com or call 800-229-3832.
About eOriginal
eOriginal, Inc. provides advanced electronic signature, vaulting and electronic transaction solutions which are tamper-sealed, auditable and legally enforceable. eOriginal SmartSign® enables compliance with the eSignature requirements of the ESIGN Act, UETA and the UCC. eOriginal has provided secure and verifiable execution, delivery and management of commercial loans, leases and other financial industry documentation for over a decade. eOriginal customers, including top-tier financial institutions, have processed millions of electronic signatures on millions of documents without a single system error or legal challenge.
Most people think a digital signature is the application of an electronic representation of a signature to a document. In fact, a digital signature involves a formal process of utilizing a digital certificate issued by a Certificate Authority (e.g. VeriSign, GoDaddy, Comodo) that uses public key cryptography to create a unique representation of a message or document. SmartSign incorporates both electronic signatures and digital signatures to simplify the capture across multiple channels such as web, mobile, point of sale, and others.
While capturing and applying a digital signature to a document is an important aspect of approvals, authorizations, and originations, it is just the start of your electronic document’s life cycle. The entire business workflow for the signature process, including prepping your documents for signature, sending them out to your signer(s), and capturing the required signatures and data is the crux of eOriginal SmartSign®. SmartSign ensures your organization can easily and rapidly conform to the UETA and ESIGN legislation to make all of your electronic signing processes legal and secure.
Using SmartSign your documents are encrypted and tamper sealed within the trusted repository to maintain, legal admissibility and enforceability throughout the documents lifecycle.
Signing Using Adobe® Signature Format
Documents signed with SmartSign – whether using the web interface or submitted via our web services – are guaranteed to conform to the signature format supported by Adobe Acrobat®. Signatures are inserted into the exact location within the PDF document and bound to the content using a digital signature. The digital signature is generated using a certificate unique to your organization. The documents are automatically encrypted and deposited in the trusted repository.
Signing Using Multimedia Signatures
eOriginal SmartSign® extends the Adobe Signature Format to include the use of multimedia signatures. Now you can extend the signature capture experience beyond the web, to capture a users’ approval or consent using a fingerprint device or voice recording. SmartSign securely binds the multimedia signature to the content of any agreement, and can automatically detect any change to the source document or multimedia file.
Multimedia signature support is actually an extension of our current visual signature representations and can be used together with any other signature appearance supported by SmartSign. The multimedia signature information is also securely stored and encrypted within the integrated trusted repository.
Retrieving And Verifying Signature Information
eOriginal allows your authorized users to obtain detailed information about each signature applied to a document without retrieving the document itself, from any location at any time. Signature information can be retrieved through the published web services, using the eCore Command Center web application, or attached to an automated email notification.
The available digital signature information includes: the name of the exact signature location, the time the signature was applied, the signer’s reason for signing, location/IP address of the signer, the Certificate Authority that issued the signature’s certificate, along with any raw multimedia data stored with the signature.
Business System Digitial Signature Checking
All documents signed using the SmartSign signature process are passed through a rigorous verification process prior to deposit in the trusted repository. When a document is presented to the repository it must pass through our multi-step signature verification and validation process. This process includes the following steps:
There must be at least one digital signature present within the document.
The digital signature is verified against the content of the document, to ensure none of the content has been altered since the signature was applied.
If there are multiple signatures applied to the document, the most recent signature much match the content of the previously stored document revision.
The digital certificate used to sign the document must be within the certificate’s validity period at the time of acceptance within the trusted repository.
The certificate will be verified as valid against the issuing Certificate Authority’s revocation list.
Only after passing this verification process, will the document be tamper sealed and deposited into the trusted repository.
The steps and processes outlined above make eOriginal’s end-to-end electronic signature solution the most robust and secure solution on the market, customizable to fit almost any business need and workflow process. Please feel free to contact us with any questions or leave a few comments.
eOriginal SmartSign® has the most comprehensive digital signing process on the market however there is a great deal more to securing your digitally signed business agreements.
A digital signature can be legally binding but that is only the first component of creating a digital asset whose value must be protected in accordance with business practices and compliance with legal and regulatory statutes appropriate to the industry in which the asset will reside.
The total digital asset consists of the digital signature, the digital document to which it is associated, and how they are bound in combination to certify them as a “unique” electronic original document. Life cycle management processes that dictate their access permission, transfer rights, and a legally admissible audit trail that tracks these processes are all also included in creating a digital asset.
These “back-end” processes have important legal, business continuity and regulatory implications that become critical if the digital asset is to retain its commercial value as an electronic transaction. This is of even greater importance when it will serve as chattel or likely to be transferred on a rights basis or by location.
This is why lightweight offerings, particularly pure-play signing tools, don’t provide the full set of features such as a unique authoritative copy or the back-end functionality for life cycle management and audit trails needed to create a true digital asset. So, the obligations for development, integration, compliance and liability are placed on the client.
This is why eOriginal has placed equal emphasis on perfecting and integrating both the front-end signature process and the back-end life cycle management process. The architectural requirements to seamlessly execute these components, while meeting every regulatory statute that governs these processes, is significant and the basis for many of our patents in this field.
So by its nature, eOriginal’s SmartSign has to be more robust than even comprehensive electronic content management or document management offerings while playing nicely with them by complementing their functionality and compliance to provide a better overall system for digital assets.
eOriginal is the only esignature provider that has been certified by top ratings agencies for securitization. And, while this securitization capability is not necessary for every electronic transaction, the underlying functionality that earned such a rating is very relevant to serious businesses.
Accompanying the recent feature updates we have made to SmartSign we have also added a few really great improvements to eCore. The eOriginal eCore® platform is already the most complete and secure document repository in the industry. eCore is the hub of our electronic signing solution. It allows our customers to control and track access, status, and retention policies of eSigned documents providing the most protection and complying with most strict regulatory standards.
Along with the recent enhancements we made to SmartSign our electronic signature solution, the updates we have made to eCore are all part of continued effort to provide our customers the most complete end to end eSigning solution. So to provide you with a better picture of how we are doing this, we wanted to provide you with a list of a few new changes.
Enhanced document watermark options to allow you to apply blackout settings to text fields, change the color of signature and text obscure blocks, and add custom text/labels to obscure blocks.
Extended document retention policies to allow multiple retention rules based on status.
Extended the document versioning policies to allow you to retain all versions, signature versions, executable and signature versions, executable and last signature version, or only the latest version.
Added new Document Library, which enables you to upload source documents and signature templates to auto-load and prepare documents for signature when adding a document profile to a transaction.
Added new Transaction Types. Enables you to define a template for transactions. All transactions created from this template will inherit the same initial set of documents, status values and permission sets. When combined with our new Document Library feature, Transaction Types enable you to create a transaction, auto-load documents and prepare them for signature in a single step.
These updates only highlight a few of the changes we have made over the last few weeks to make eCore even more robust and user friendly. We are dedicated to continually developing solutions that will easily integrate and complement your existing business processes and systems, so keep an eye out for even more developments in the coming new year and please don’t hesitate to reach out and ask any questions about how we may be able to help your business.
Empire National Bank Selects eOriginal SmartSign® Web
BALTIMORE, MD (Vocus/PRWEB), December 2, 2009 – As part of it’s drive to deliver next generation banking services, an innovative Long Island bank is eliminating the need for attorneys to go to their branches to open and close escrow accounts by delivering the process, including electronic signatures, over a secure website.
Empire National Bank (OTC Bulletin Board: EMPK) is using eOriginal SmartSign®Web to enable authorized law firm representatives to execute W9, Power of Attorney, Master Agreements and other documents directly from their offices.
“The current paper based processes are inconvenient and time consuming, requiring excessive travel by lawyers to the branches,” said John Pinna, Chief Information Officer. “This inefficient process has often extended the time to complete a transaction or establish a client escrow account and does not provide the type of high-touch personal customer service our customers have come to expect from us.”
“Accelerating electronic business services with straight through processing is a time and money saving win for the attorneys and the bank who can now provide a faster turnaround for their customers, said Bryan Caporlette, eOriginal’s Chief Technology Officer.” We designed SmartSign so that they can deliver a seamless integration and customer experience while ensuring legal compliance with both E-SIGN and the Uniform Electronic Transactions Act (UETA)
About Empire National Bank
Empire National Bank is a full-service community business bank dedicated to serving the privately owned small to mid-sized businesses, professional practices, not-for-profit organizations as well as Long Island’s local residents. The Bank serves businesses and consumers with a full complement of deposit, loan and cash management products.
As Long Island’s “Next Generation Bank”, we pride ourselves on providing personal customer service that will exceed our customers’ expectations, while using technology at the highest level available to us. All of our products and services are delivered with a sense of urgency in the local communities that we serve, while offering all of the products and services necessary to conduct banking competitively, efficiently, safely, and securely in today’s fast-paced business environment said Douglas C Manditch, Empire National Banks Chairman and CEO. The Bank presently has branches in Islandia, Shirley and Port Jefferson Station and plans to open a fourth location in Garden City in 2010.
About eOriginal Inc.
eOriginal provides advanced electronic signature, vaulting and electronic transaction solutions which are tamper-sealed, auditable and legally enforceable. eOriginal SmartSign® enables compliance with the eSignature requirements of the ESIGN Act, UETA and the UCC. eOriginal has provided secure, verifiable execution, delivery and management of commercial loans, leases and other financial industry documentation for over a decade. eOriginal customers, including top-tier financial institutions, have processed millions electronic signatures on millions of documents without a single system error or legal challenge.
To learn how eOriginal can streamline your business processes, visit www.eoriginal.com or call (410) 895-7699. Follow eOriginal on Twitter @eOriginal.
FedEx Custom Critical specializes in time-sensitive, same day shipping and overnight delivery of critical freight... Read Our Featured Success Stories ›
Speak to a Sales Associate
Intellectual Property
Integration
Compliance
Security
Professional Services
Securitization
