Insurance group, Tokio Marine HCC is set to leverage DocuSign eSignature and knowledge-based authentication (KBA) technology to verify the identities of individual signers.
The move is expected to simplify the indemnity insurance agreements process by eliminating the need for notaries and physical paperwork.
It will allow agents, brokers and their clients to save time and money when transacting with and executing Tokio Marine – Surety Group indemnity agreements.
DocuSign eSignature and KBA technology uses a user-friendly platform to digitally verify the identity of the person who signs. This platform enables users to sign documents electronically on any device.
The platform is said to be highly secure and meets US, EU and global security standards, which is due to the use of their data encryption technologies.
Tokio Marine noted that it has been employing technological advances in electronic signatures for more than ten years.
“Within our Surety Group, along with the entire Tokio Marine HCC organization, we are continuously seeking out new technologies – or in this case, advancements in existing technologies – to simplify processes and create efficiencies within our business. As a leader in our industry in terms of underwriting knowledge and expertise, focusing on innovation gives us another competitive advantage and benefits our customers,” said Adam S. Pessin, Tokio Marine HCC – Surety Group’s Chief Executive Officer.
