People find it difficult to buy life insurance plans because they need a lot of paperwork, application processes, consulting agents, buying guides,s, etc. coming upon these troubles in this digital world a new signature option came into existence, Voice Signature. it gained a lot of popularity, emphasizing more speed work, convenience, and better customer experience.
What is Voice Signature Life Insurance?
Voice Signature is also known to be a telephonic signature used for tele-underwriting processes instead of standard pen paper wet sign and e-signatures proceeding with a telephone interview. it is used by most life insurance companies to save time and delays rather than do application processes.
normally voice signatures in life insurance are typically around 3-5 minutes long. The voice sign should be short, precise, and conducted by an experienced underwriter for tele-underwriting interview processes. there is still a traditional application process going on with insurance agents consulting their customers. this electric way of signing is used by lots of organizations, data shows this term voice signature has actually increased sales and popularity.
there is no far difference between voice signature and e-signature they come under e-signature which helps in signing insurance applications. voice signature is based on biometric software mainly used by insurance companies for tele-underwriting which uses recorded verbal agreement of an insurance buyer generating a unique voiceprint of that person. however, e-signatures are used in online contracts, financial transactions, etc. based on public key infrastructure used as a unique symbol or stamp.
How do I apply for Voice Signature Life Insurance?
Applying for voice signature life insurance is an easy process. if you wish to get coverage online then first visit the official website of that insurance company, complete the online application process provide your policy, and e-sign the application. after completing all the writing processes finally wait for tele-underwriting before an interview. after a successful interview, you will receive an email referencing further steps.
Advantages of using voice signature over e-signature
Voice Signature in life insurance is widely accepted over e-signature for the following reasons.
1. Fast, simple, and convenient to use
2. More convenient for those who are aligned with digital gadgets like smartphones, computers, or the internet world.
3. due to biometric software generating unique voiceprint, it's more secure and trustable for insurance carriers.
4. reduction in underwriting cycle time processes.
5. increases insurance organization's placement ratio
Disadvantages of voice signature over e-signature
A coin has two sides, nothing is perfectly set in this universe the challenges or disadvantages of voice signature over e-signature are as follows
1. no clear communication
2. voice recording Storage
3. costly compared to e sign
4. need advanced technology and pieces of equipment to record and verify voiceprints.
5. may get disturbed due to background noise, audio quality, tone, etc.
6. no such law or regulation on voice signature life insurance.
What are some companies that offer voice signature life insurance?
New York Life: New York Group Membership Association came up with voice signature technology changing the application of the coverage process which came to be used under tele-underwriting interviews in place of wet and e-signature.
Frequently Asked Questions
What are the Best voice signature software?
There are hundreds of voice signature software available on the internet here are the most popular and used services
1. Dragon
2. Otter
3. ListNote
4. Speechnotes
5. Brains