While signing, scanning and emailing a contract may seem like the fastest way to finalize an agreement, this method can leave insurance companies incredibly vulnerable to cyberattacks, including data theft, extortion and malware installation. (Credit: TippaPatt/Shutterstock.com)
The insurance industry saw an unprecedented rise in the adoption of digitized contracts and eSignatures due to COVID-19 and its aftereffects.
A survey of insurance CEOs by KPMG revealed that 85% of executives said COVID-19 accelerated the digitization of their operations, and 78% said it significantly sped up the creation of a seamless digital customer experience.
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