QuickPack: Enabling A Superior Claims Process
In digital era, why are lenders still refusing to accept claims documents which have been signed electronically by customers? You can do almost anything online, from making life-changing purchases to booking appointments. So, why not signing documents?
Do you remember practicing your signature as a child? It took you years to get a consistent signature but once you had it, you would sign pretty much the same way every time. It turns out that’s quite important for claims.
Lenders look at your signature to check it with samples in their records. And most e-signed documents don’t match because they are simply printed words. Users type in their names and adopt a signature style from a pre-defined list.
Why QuickPack is the Solution
Unlike the adopted signature method, QuickPack allows you to upload or draw your real signature directly onto documents. In terms of making claims for compensation, this is no different from getting a wet signature on a letter of authority and photocopying it to send to a lender. As the customer is using her real signature, that means the documents have a higher chance of being accepted. Lenders are trying to verify identity by comparing signature samples after all.
The Impact of QuickPack
The results achieved after switching to QuickPack are exceptional. Processing times and qualification costs have been dramatically reduced (at least 25% immediately after implementation).
The average time to submit letters of authority to a lender is now just five days, with the fastest payout on record taking only four weeks from customer in. Even when a physical signature is sought from a customer to support their claim, 85% of customers send back the pack. This is very helpful for avoiding delays later in the process.
How Does This Benefit Our Clients?
Since using QuickPack, our clients:
- No longer need an outbound sales team to gather information for claim packs
- Receive customised, on-brand data that is GDPR compliant
- Benefit from direct integration with their CRM, so all data plus signed letters of authority and terms of engagement are delivered directly to their own system
- Realise immediate cost savings for processing claims