How the insurance company achieved 80% savings with electronic signature on every policy.
The DAS Group belongs to ERGO, one of Europe’s leading insurance groups, which is in turn the main insurer of Munich Re, a global leader in the reinsurance business.
The DAS Group is made up of DAS Seguros, a legal protection insurance company, and DAS Lex, a legal services company.
80%
cost savings on every policy
5
minutes to sign a policy (previously 6 days on average)
25
pages signed electronically without printing a single sheet
The Challenge: Streamlining the Insurance Contracting Process
To get policies signed, the insurance broker could print them and send them to the interested party by post, or DAS Seguros would handle this shipment along with the rest of the documents making up the “Welcome pack” (around 25 pages).
Traditionally, when issuing the policy, the broker could choose between two options:
- Print the documentation and send it to the client’s home address.
- Generate a request sent to DAS Seguros’ print center, with the insurer sending it to the client by post.
Depending on geographic location, this process could take 4 to 6 days. In short, “it was a cumbersome and inefficient process,” in the words of Patricio Ilyef, Head of Organization and IT at DAS Group.
DAS Seguros wanted to streamline and simplify this contracting process for its insurance products and services, improving the user experience, and needed help to do so.
The Solution: Adopting Electronic Signature
Since 2016, thanks to Namirial, the broker can choose to have the policy signed digitally.
This means that, upon issuing the policy, an email is automatically sent to the client inviting them to sign it digitally. Wherever they are, they can sign it quickly and easily using their phone, tablet, or computer.
Once signed, the policy is digitally archived and accessible to the broker, the insurer, and the client.
Done! The signed policy is digitally filed and the contracting process is complete.
“With Namirial, we went from an average of 6 days to close the policy signing process to just 5 minutes.”
— Patricio Ilyef, Head of Organization and IT
The Result: From 6 Days to 5 Minutes
DAS Seguros currently has 25% of its policies signed online, with 80% savings on each signing process and reducing its times from an average of 6 days to 5 minutes.
By adopting electronic signature, mobility, speed, and security have all improved. In addition, errors in the signing process have been avoided and paper consumption has been reduced, benefiting everyone involved.
This new option brings benefits to all parties involved, such as:
- Time and resource savings: with electronic signature, insurance contracting is completed in minutes instead of days. This saves time for both clients and insurers, resulting in greater operational efficiency and an improved customer experience.
- Reduced paper use: electronic signature contributes to environmental sustainability by significantly reducing the amount of paper used in insurance processes.
- Greater security and authenticity: thanks to advanced encryption and traceability mechanisms, electronic signature guarantees the integrity and authenticity of signed documents. This protects both insurers and policyholders against possible fraud or manipulation.
- Errors in the signing process are avoided: through the electronic signature process, the client makes sure the policy is sent only once all the data is correct.
Disclaimer: this success story was originally produced and published by Signaturit. Following the integration of Signaturit into the Namirial Group, it is now hosted on the Namirial website for archival and informational purposes. The results, figures, branding, and product references reflect the customer experience at the time of original publication and may no longer represent current offerings or outcomes.