ACORD, the global, nonprofit standards development organization serving the insurance industry, released a new strategic analysis on e-Signatures and e-Delivery in the insurance industry, providing an overview of the legal requirements and best practices for implementation, to serve as a guide for agents, distributors and carriers who want to use or enable electronic signatures but are not sure how to get started.
The analysis provides suggestions to implementers, listing a number of general best practices, as well as specific ones for insurers and producers. One example includes a recommendation that “email should be sent with links to a secure site.”
The analysis also provides definitions of commonly used terms and includes overviews of both ESIGN and UETA, special considerations for using voice signatures, and subjects such as record retention and admissibility of evidence in court.
As a leading provider of electronic signature software, AssureSign e-signatures, including biometric handwritten signatures, typed ‘certified’ signatures and verbal agreements, offer the highest level of security. Additionally, AssureSign e-signatures comply with all federal, state and international regulations for electronic signatures and are legally binding.