Ebix Streamlines Straight Through Processing With E-Signature
Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of On-Demand software and E-commerce services to the insurance and financial industries, today announced a partnership with Communication Intelligence Corporation (“CIC”) (OTCQB: CICI), a leading provider of electronic signature solutions and a recognized leader in biometric signature verification. Ebix also announced the impending integration of CIC’s SignatureOne® Cloud-based electronic signature service into EbixExchange’s AnnuityNet, AMP, LifeSpeed and SmartOffice platforms. The companies are already in the execution phase with a number of EbixExchange’s largest U.S. insurance customers to provide “real” straight through processing by incorporating electronic signatures into EbixExchange’s market leading platforms, thus eliminating their last remaining non-digital process.
“Our first deployment of this combined technology will be applied to one of the largest life insurance and annuity producers in the United States,” stated Dan Delity, Ebix’s Senior Vice President in charge of EbixExchange. “We will be providing an end-to-end solution including EbixCRM, illustrations, product research, electronic applications for life insurance, compliance, suitability, electronic policy delivery and electronic servicing of insurance policies - all with the capability of capturing and verifying both the customer and agent signatures through CIC technology. Through this partnership with CIC, electronic signatures will allow for paper to be replaced by Ebix technology creating the life industry’s first complete end to end electronic process for field agents and advisors.”
“EbixExchange has redefined business processes throughout the entire insurance sales cycle by providing supporting automation through their platforms,” stated William Keiper, CIC’s President. “With the integration of CIC’s electronic signature service, EbixExchange will extend its leadership by offering a single, consistent, process that will drive the virtual elimination of paper-based administration from agent and insurance company procedures, allowing their customers to devote an increasing amount of time to growing their businesses instead of managing outdated and time-consuming processes. This will also shorten the cycle for payment of brokerage commissions for all types of insurance sales.”
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