LIDMA Voice Signature Evaluation Checklist

These minimum requirements must be satisfied to achieve the LIDMA E-Solution “Seal of Approval”.  The vendor description of how each requirement is met is intended to help LIDMA members evaluate different  Voice Signature options and pick the solution that is right for their business model.

The Seal of Approval Process will occur twice annually.  Below is the annual submission calendar:

Approval Cycle

Application
Due Date*

Review Process & Verification 
of References

Seal 
Announcements

Summer

August 26th

August 27 - September 9

Seal Approvals announced 
LIDMA Annual Meeting

Winter

February 28th

March 1 – March 30

Seal Approvals announced 
LIDMA Annual Meeting

 

*Any submissions received after the posted deadline will be held until the next review period.  Applicant will be notified of this action.

In addition to the announcement by LIDMA of all Seal awards, all Seal recipients (both winter and summer submissions) will receive special recognition at the LIDMA fall meeting.

Please remember the purpose of LIDMA, “The ultimate objective is to serve people better, to enhance the buying experience and efficiently get more life insurance protection in force for the families and businesses that need it.”  We hope this Seal Process will help you find ways to do this more efficiently.

1. About Your Company

Requirements:

These important factors are required to ensure your solution is a valid Voice Signature process protected under Federal and State Laws.  Failure to meet the requirements in this section may increase legal risk by undermining the integrity of the voice signature. 

Details are needed for each requirement as well as status of the requirement – please indicate present status using the following: "Y" (Yes, In Production), "N" (N, Currently Not Supporting) or "D" (Development Underway). **Please note Production does not necessarily mean pilot, if presently piloting please use "P" **

2. The system provides an enforceable Consumer Disclosure process.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

3. There is a process to provide forms that can not be read aloud to the client for review before signing.

  Y - Yes. In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

4. How are the voice signed documents provided to the client?

5. The system produces an audit trail after the signing is complete.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

6. The audit trail provides evidence of authentication, consumer disclosure if given and time/date stamp of transaction.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

7. The system provides for multiple signers to sign the same documents.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

8. The system accommodates business rules to ensure In Good Order (IGO) documents.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

9. Please upload any supporting documentation.

System Features:

These important factors are recommended for an E-Solution receiving the LIDMA Seal of Approval. They assist both senders and signers to ensure they have all the proper equipment and knowledge of the process to result in high sender and signer adoption rates.

Details are needed for each requirement as well as status of the requirement – please indicate present status using the following: "Y" (Yes, In Production), "N" (N, Currently Not Supporting) or "D" (Development Underway). **Please note Production does not necessarily mean pilot, if presently piloting please use "P" **

10. The system includes a process to show signer's intent to be bound.

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

11. Can this solution be shared with direct marketers for internal use in their environment or is it only fulfilled through the carrier or vendor?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

12. If not a Carrier, does your system electronically transfer images, data or both to the carrier's systems?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

13. Does your system support multiple forms in a single signing ceremony such as supplemental forms and illustrations?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

14. Please upload any supporting documentation.

Authentication and Workflow Features:

A well-designed process enabling the DM to authenticate signers and manage document workflow are recommended factors for an E-Solution receiving the LIDMA “Seal of Approval”.

Details are needed for each requirement as well as status of the requirement – please indicate present status using the following: "Y" (Yes, In Production), "N" (N, Currently Not Supporting) or "D" (Development Underway). **Please note Production does not necessarily mean pilot, if presently piloting please use "P" **

15. What authentication or identity verification method(s) are utilized in your solution?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

16. Are multiple signers supported in this solution?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting

17. Does your solution allow for the signer to opt out of voice signing the documents?

  Y - Yes, In Production
  N - Currently Not Supporting
  D - Development Underway
  P - Presently Piloting
  Electronic
  Paper

References:

MINIMUM REQUIRED 2 – MUST BE GIVEN TO VALIDATE WORK FLOWS ARE IN PRODUCTION - 1 DM, 1 CARRIER

18. Reference #1

19. Reference #2

20. Reference #3

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