SBI Life Insurance, Case Study

Business Challenge:

SBI Life Insurance has several customers and it is tough to generate and sign thousands of insurance policy documents on a daily basis. The overall process incurred was very tedious, as these documents had to be signed manually
To reduce the costs, time and make process automatic, SBI Life Insurance decided to adopt electronic mode. The system had to be compliant with all the legal regulations pertaining to digital signatures in India.

Solution requirements:

SBI Life Insurance wanted to streamline the insurance policy issuance process.

Solution requirements::

1. Ability to automate the signing process without user intervention
2. Ability to sign insurance policy documents in bulk
3. Ability to sign with digital certificate stored on IE
4. Logging for success or failure in signing

E-Lock Solution:

To meet SBI Life Insurance requirements, E-Lock provided its automated server side bulk signing solution, Bulk Signer. E-Lock Bulk Signer runs as Windows-based service on the server, and polls the pre-defined server folder for invoices at regular intervals. Invoices are digitally signed with the pre-configured certificate from the web browser, and are kept in the output folder, which are then further processed. There is no manual intervention while signing and the process is completely automatic. All the features like polling time, input and output folder, digital certificate with which files are signed, reason and location, which appear in the signature block, are pre-configured.

Benefits:

The successful deployment of E-Lock Bulk Signer allowed SBI Life Insurance to:

1. Completely automate and implement insurance policy issuance process
2. Paperless improving operating efficiency, reducing cycle time
3. Ensured Compliance and legal validity of signed documents
4. Saved the man hours which were required for manually signing, they can now be focused on more important business tasks rather than these mundane ones
5. Increased competitiveness and service levels
6. Savings on the overheads and man-hours

About E-Lock:

E-Lock is a leading provider of digital signing solutions, which are compliant with worldwide e-Signature legislation. Founded in 1997 the company is headquarters in McLean, VA. It offers desktop and web based security solutions. E-Lock products are used across Government, Healthcare and Financial organizations around the globe.