eDelivery is a cost effective way for organizations to electronically send documents to customers, reducing operational costs by cutting out the use of traditional mail services. This is the fastest way to deliver important documents to customers but organizations who use eDelivery are also required to do so in a secure and compliant manner meeting industry standards.
The requirements contained in the application must be satisfied in order to achieve the LIDMA eSignature Seal of Approval. Providing specific details on how each requirement is met assists the LIDMA members in evaluating the different eDelivery options and to ultimately choose the right solution that fits their business model. This is a great opportunity to get your eDelivery solution in front of heavy users in the Life insurance industry who may be assessing various solutions to adopt in the way they conduct business.
The Seal of Approval will be awarded twice annually. See the annual submission calendar below:
Approval Cycle
ApplicationDue Date*
Review Process & Verification of References
Seal Announcements
Summer
August 15th
August 16 - September 15
Seal Approvals announced LIDMA Annual Meeting
Winter
February 28th
March 1 - March 30
*Any submissions received after the posted deadline will be held until the next review period. Affected applicants will be notified of this action.
All application submissions must be for your own eDelivery solution, not a third-party.
In addition to the announcement by LIDMA Board of all Seal of Approval winners, all award recipients (both Winter and Summer submissions) will receive special recognition at the LIDMA Fall meeting.
When completing your application, please remember the purpose of LIDMA: “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.”
1. About Your Company
These important factors are required to ensure your solution is a valid ESIGN 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 electronic policy delivery solution.
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 solution is configured to satisfy legal and compliance requirements at a carrier and state level.
3. The system allows a carrier to electronically deliver the policy directly to the policy owner.
4. The system allows the DM to review/approve the policy before it is released for electronic delivery to the owner.
5. The system allows the DM to review/approve the policy electronically, but elect to print the policy.
6. The system notifies the DM that the policy is available for electronic delivery.
7. The system provides an enforceable Consumer Disclosure process.
8. The system includes a process to show signer's intent to be bound.
9. Documents are presented during the signing process as they appear in paper format.
10. The system ensures that the documents have not been tampered with after signing is completed.
11. The system provides the signer with a copy of the policy and any delivery requirements.
12. The system produces an audit trail after the signing is complete.
13. The audit trail provides evidence of authentication, consumer disclosure if given and time/date stamp of transaction.
14. The system allows for electronic collection of all signatures required to place a policy in effect.
15. The system provides business rules to expire access to policies that have not been electronically accepted during the specified delivery period.
16. The system provides a method for a carrier to void a policy prior to electronic acceptance by the owner.
17. The system provides a method for the consumer to authorize electronic premium payment.
18. The system allows for electronic completion and signature of all delivery requirements.
19. The solution is configured at a carrier level to provide for the return of data and/or images documenting success or failure of the electronic policy delivery.
20. Please upload any supporting documentation.
These important factors are recommended for an E-Solution receiving the LIDMA Seal of Approval. A well-designed process enabling the DMs to authenticate participants, manage document workflow and multi-party communications will result in high sender and signer adoption rates.
21. Does your policy delivery process require any digital certificates, additional software, web plug-ins or hardware?
22. Which web browsers has your system been tested against?
23. Is your solution designed as a multi-carrier platform?
24. What authentication method(s) are utilized by your solution?
25. Does your system employ a proprietary e-signature process or is it integrated with a vendor's e-signature solution?
26. Once electronic delivery of a policy has been completed, does your system continue to host the policy in a manner accessible to the DM and/or consumer? If yes, how long beyond the delivery date is the policy maintained?
27. Does your solution allow for workflows to vary by DM?
28. Does your solution allow for the carrier and/or DM to establish a different workflow for cases that have been Approved Other Than Applied (AOTA)?
29. Does your platform allow for carrier/DM co-branding of emails and the consumer portal?
30. Can the DM attach document(s) to be delivered to the policy owner along with the policy (e.g., cover letters, electronic business cards, referral requests)?
31. When and how is the DM notified of the success or failure of the electronic policy delivery?
32. What types of DM requests can be communicated to the carrier via your solution (e.g., policy corrections, delivery extensions, cancellations)?
33. Can your solution allow for real-time modification of the policy by dynamically generating an amendment and collecting additional premium?
34. What type of status and/or metrics reporting is available on the carrier or DM user interface?
35. What type of standard or custom reporting can be accessed from the carrier or DM user interface?
36. Please upload any supporting documentation.
MINIMUM REQUIRED 2 – MUST BE GIVEN TO VALIDATE WORK FLOWS ARE IN PRODUCTION - 1 DM, 1 CARRIER
37. Reference #1
38. Reference #2
39. Reference #3
