Now, that may be a funny way to illustrate a serious topic, but is a good example how new technologies can help producers save money and reduce E&O exposure.
Let’s break it down…
Under a typical manual process, there are several steps that need to happen; from printing the document, to signing, crimping, and scanning. If all happen as expected, average time incurred is 6 minutes per transaction.
Obviously, it doesn’t always happen as expected, which could lead to increased time per transaction or even more severe, an E&O claim.
With the automation technologies featured in iAutomate Surety, the sign and seal process is dramatically reduced to less than 30 seconds per transaction, while substantially reducing the probability of error.
Industry research suggests an average busy bond business executes a minimum 3,000 applicable transactions per year.
What would you do with 275 recovered hours per year? With obligee acceptance on the rise, the timing couldn’t be better…
It’s time to explore newer, more advanced technologies, such as iAutomate - "Surety Simplified.”
Insurance Automation Group