When reaching a total loss settlement, a customer typically must wait for documents to arrive in the mail to then sign and return to the insurer for processing and the subsequent rendering of payment. With the advent of an electronic signature system from Farmers Insurance, the chain of necessary events may look a little different.
Farmers Insurance Group of Companies has introduced eZsign, a settlement option for its customers with total loss claims. The option is currently approved only in select states, but Farmers anticipates more widespread adoption in the future.
"With the agreement of the Washington, Oklahoma, and Illinois Departments of Motor Vehicles, [we] can give customers the option to receive the documents via email, sign them online using their mouse, and return them instantly to expedite payment," explained Odom Wu, director of Farmers Strategic Initiatives.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
