Use of e-signatures on life apps expected to increase.
60% OF INSURANCE COMPANIES that sell their products through financial professionals use e-signatures and an additional 20% plan to add this tool within a year. E-applications are used with e-signatures by 58% of companies.
The most common e-signature in use at 52% is "click wrap" or what we know as "I Accept" or "I Agree" buttons that are clicked in the presence of a financial professional. The second most common e-signature is a click wrap sent by email to the customer, which is used 49% of the time.
In terms of effectiveness, 78% of the companies said their use of e-signatures was very or somewhat successful.