90minsmin. time saved when signing up for a Funeral Insurance policy
↑increase in new sign ups
↑policy cover in place sooner than with previous ways of working
Since 1999, An Post Insurance has been delivering great value Car, Home, and Funeral insurance products to hundreds of thousands of customers around Ireland. It is a 100% wholly owned subsidiary of An Post, also known as the Irish postal administration.
By implementing DocuSign eSignature, An Post Insurance has been able to enhance the online experience, simplify the buyer journey, and improve business efficiencies.
Improving customer completion and retention rates with eSignature
An Post Insurance provides potential Funeral Insurance clients with an online journey that allows for self-assessment to generate a quote. However, if the user wished to complete the purchase of the policy, they would need to complete the process offline.
Before using DocuSign eSignature, this would involve An Post Insurance issuing documentation packs via email or, if requested, by post. The customer would then be required to print the emailed documents before completing, signing, and returning via post.
This procedure created issues for the organisation as customers found the process overly complicated, the result being that many of the requested documents simply weren’t returned.
Shaping online efficiencies with DocuSign eSignature
In order to streamline the online user experience, An Post Insurance needed to digitally transform its processes and procedures. DocuSign eSignature was not new to the organisation, it was actively being used internally for the sign-off of purchase orders and invoice authorisations, along with other sign-off items.
From such experiences, the business knew that the electronic signing of documents was quick and easy, and enabled accurate and visible record keeping of all signed documents. All that was required was to ensure that DocuSign eSignature met its rigorous security standards.
“After a comprehensive review of options,” states Gary Finnerty, Head of Marketing at An Post Insurance, “we ultimately saw that the security standards and features offered by DocuSign gave us the reassurance to know that our customers’ personal information would be protected.”
DocuSign API was deployed in order to create an integrated DocuSign iFrame into the An Post Insurance Funeral Insurance web quote and buy journey. This enabled customers to not only generate a quote, but also be presented with a unique DocuSign eSignature documentation pack pre-populated with the buyer’s own information ready to be signed - all without having to interrupt their journey or leave the site.
“Integration with the DocuSign API service has also been most useful. It allows us to provide a unique document pack to customers that is pre-populated with the customer’s own information. Gary Finnerty, Head of Marketing at An Post Funeral Insurance” Gary Finnerty, Head of Marketing at An Post Funeral Insurance
The bespoke solution also enables An Post Insurance to automatically purge documents after a configurable time frame, ensuring the business is not retaining documents with client information longer than is necessary - a key consideration for meeting regulatory requirements.
An Post Insurance’s primary motivation in streamlining its user journey was to enhance the online user experience. “The time and effort saved for customers interested in cover is enormous. It has brought a product that was rooted in an anachronistic purchase experience bang up to date.” Says Gary. It has seen an instant impact since introducing DocuSign eSignature to its website, saving each customer an estimated 90 minutes when signing up for a Funeral Insurance policy.
From a business perspective, An Post Insurance has seen a considerable increase in new sign ups, improving company revenues and delivering positive return on investment. “82% of customers who reach the DocuSign eSignature step of the web process go on to complete the digital signature there and then,” states Gary, “which we think is an incredible endorsement of this facility.”
In addition, once an An Post Insurance policy is agreed, details of newly signed up customers can be sent instantly to the organisation’s underwriter (New Ireland Assurance Company Plc). This allows New Ireland to confirm cover significantly earlier than is the case for postal applications, resulting in policy cover being in place a lot sooner than with previous ways of working.
Benefits have not only been confined to the online experience, as An Post Insurance has noted that 55% of sales achieved have been completed outside of normal business hours. By enabling customers to sign-up to products at a time that suits them, rather than that of the business, it has registered improvements not previously factored into its strategy.
By eliminating the need to print and post paper documents, DocuSign eSignature also aligns An Post Insurance with its goal of being a more responsible business guided by the principles of sustainability.
Future initiatives underpinned by DocuSign eSignature
For An Post Insurance, deploying DocuSign eSignature was necessary in order to meet its objectives of simplifying the signing process for its customers, while at the same time reducing paper consumption and reliance on traditional ways of working.
Its priority is to power further growth by offering leading customer experiences that reflect its brand promise of being ‘Human About Insurance’. It understands that DocuSign eSignature can support them on this journey, significantly improving the performance and contract turnaround times its desires, while delivering the security it demands - ensuring the organisation meets its business growth objectives.
*Acceptance criteria, terms and conditions apply. One Direct (Ireland) Limited, trading as An Post Insurance, is regulated by the Central Bank of Ireland. One Direct (Ireland) Limited is a wholly owned subsidiary of An Post. An Post Insurance is a tied agent of New Ireland Assurance Company plc for life assurance business. Life assurance policies are underwritten and provided by New Ireland Assurance Company plc. A Government levy (currently 1%) applies to all premiums paid.*
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