MIB Group Inc., a Massachusetts-based provider of database and information management tools to the global risk management industry, is taking advantage of the latest technological developments by accepting electronic signatures as non-traditional method of consent.
“As technology advances and rapidly evolves, businesses will become increasingly dependent upon the efficiency and speed of a newly approved non- traditional form of consent – electronic signatures,” said Jay Cook, CEO of MIB Group Inc.
The Electronic Signatures in Global and National Commerce Act grants electronic signatures, electronic records and other non-traditional media the same legal status as handwritten signatures and paper documents. ESIGN will allow companies to create valid contracts using digital records and signatures converting time consuming processes into instantaneous responses.
The development of electronic signatures creates enormous opportunities, allowing MIB to advance the insurance industry. Electronic signatures will provide insurance underwriters with the ability to increase the amount of business they write, and to greatly improve the efficiency of the underwriting process.
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