Beyond the Phone Interview

Using Voice Signatures in the
Tele-underwriting Process

Voice Signatures are really useful for tele-underwriting as they provide valid signatures on the insurance application eliminating delays associated with obtaining an e-signature or wet signature after the telephone interview.

A big challenge to using voice signatures is finding a way to present a lengthy authorization and signature statement that the applicant must listen to prior to providing their voice signature. Here at IBU we have overcome this challenge and here are a couple of examples as to how we did it.

The first thing that must be done is to make sure voice signature statement is as time efficient (short) as possible. We sent an insurance carrier’s lengthy authorization to be professionally recorded and the voice signature statement we received was 4 minutes and 15 seconds long! We felt that over four minutes was too long and it needed to be shorter. We then found a recorded authorization (without voice a signature statement) that we have used for the last five years in a different telephone interview process. In this recording the authorization language is spoken at a faster pace than the professionally recording we received. If applicants had never complained in five years then why not insist that the voice signature statement be professionally recorded at a faster pace.

We sent this faster paced authorization and had the same lengthy authorization which originally produced a 4 minute and 15 second voice signature statement reduced to just over 3 minutes. Three minutes is still a significant voice signature statement for the applicant to endure but we have found that preparing the applicant at the beginning of the interview and right before playing the voice signature statement has resulted in very good compliance with the voice signature process.

Speeding up the entire tele-underwriting interview is also key to having the applicant tolerate a three minute voice signature statement. Using experienced underwriters for tele-underwriting interviews really helps speed up the interview. Experienced underwriters don’t require medical drill down questions because they know what to ask when an applicant says “yes” to an application question. Lengthy drill down sets read by non-underwriters for applicants with several “yes” answers can take a very long time and lead to a poor customer experience.

Obtaining voice signatures at the end of the tele-underwriting interview really helps locked down the sale while the buying commitment from the applicant is still high. Tele-underwriting by experienced underwriters capped off by obtaining voice signatures is a proven process which has resulted in faster turnaround, fewer APS’s and more placed business.

To find out more about IBU tele-underwriting with voice
signature click here.

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