Questions about the viability of e-signature applications for life insurance have slowly been answered over the last 10 or 12 years. In a recent Celent report, Have E-Signatures Finally Arrived? An Update for Life Insurers, we found that insurers are finally utilizing e-signatures across many functions and processes in an effort to lower costs, shorten cycle times, and improve the services they provide to both business partners and consumers. The rapid momentum in e-signature adoption was also driven by the evolution of consumer technology. Smartphones, tablets, and touch screen computers help make e-signing more accessible.

But despite the ease of using e-signatures and their obvious benefits, one-quarter of insurers surveyed in our report have not implemented them. Some of these insurers anticipate implementing the technology in the next year or two, while others are still investigating its potential. Some of the reluctance can be attributed to concerns about compliance, business and legal risks of e-signatures, and the ever-present stiff competition for IT investment dollars. Our research showed that concerns related to technology have diminished relative to years ago and now there are many vendors in the market offering secure e-signature technology. This report serves to provide a brief overview of the vendors who compete for life insurance e-signature market share to help make the vendor selection process easier.