Case Study: Leading P&C Insurance Company achieves instant digital policy issuance and millions in cost savings with OneSpan

Leading P&c Insurer Uses E-signatures to Issue Digital Policies in Minutes

Leading P&C Insurance Company faced a slow, paper-based new-business process that left applications open for up to 52 days, caused unreturned forms, increased premiums or cancellations, and raised acquisition costs. To speed up issuance and improve customer experience, the insurer selected OneSpan’s e-signature solution (OneSpan Sign Enterprise Plan) to replace wet-ink workflows across channels.

OneSpan implemented e-signatures across call center, web and agent channels, enabling straight-through processing and immediate policy issuance. The result: processing time fell from 52 days to about 10 minutes, more than 1 million e-signed documents per year, adoption rates of 75% in call centers, 92% online and 50% among agents, $10 saved per transaction, $200,000 saved in paper/postage in five months, $500,000 in labor savings, and an estimated $2.5–$5 million in recurring annual savings.