MIB Group’s Paperless Solutions Group (PSG) has launched eXpedite, an e-signature and workflow support platform designed specifically for the life insurance industry. The platform aims to bring speed and simplicity to the sector by leveraging existing technology to manage electronic signatures and improve document processing.
Andrea Caruso, Executive Vice President and Chief Operating Officer at MIB, explained that eXpedite builds upon basic e-signature capabilities by allowing users to tag and add documents from an existing forms library. The platform enables seamless and secure interfaces for multiple parties, including advisors and clients, to sign documents in a specific sequence.
“It takes the basics of e-signature… but it also adds on abilities like the ability to tag and add from an existing forms library,” Caruso said. “It allows for you to send it to multiple parties and add on additional elements that might need to be signed.”
The primary goal of eXpedite is to make the life insurance process easier for producers and remove common barriers to purchasing life insurance. Caruso noted that the industry has invested heavily in technology to reduce stress when buying life insurance and annuities. The platform streamlines workflow at various levels, including BGA (Brokerage General Agency) and carrier levels, without inconveniencing clients or advisors.
While eXpedite was developed with life insurance workflows in mind, it can support any process requiring e-signatures, including human resources, vendor contracting, and other insurance segments. MIB tested eXpedite through APEXA, a centralized contracting and compliance solution connecting Canadian life insurance carriers, MGAs (Managing General Agencies), and advisors. APEXA successfully replaced their entire e-signature platform with eXpedite last year, processing hundreds of thousands of transactions seamlessly.
The eXpedite platform offers several key features, including:
- Unlimited signature parties with designated signing sequences
- Delegation of document control to various parties
- Assignment of roles for recipients and watchers
- A robust notification system for document status updates
- Adaptable email templates reflecting client company voice and style
- The ability to upload unique client forms or use the PSG carrier library
- Secure authentication methods, including text messaging and one-time event processes
- Full API capabilities for easy integration into existing workflows
By implementing eXpedite, MIB Group aims to modernize the life insurance industry’s document processing and signature workflows, enhancing efficiency and user experience.
