Tokio Marine– Surety Group is set to leverage DocuSign eSignature and knowledge-based authentication (KBA) technology to verify the identities of individual signers.
The move is expected to simplify indemnity agreements process by eliminating the need for notaries and physical paperwork. It will allow agents, brokers and their clients to save time and money when executing Tokio Marine – Surety Group indemnity agreements.
DocuSign eSignature and KBA technology uses a user-friendly platform to digitally verify the identity of the person who signs. This platform enables users to sign documents electronically on any device.
The platform, which uses data encryption technologies, is said to be highly secure and meets US, EU and global security standards.
Tokio Marine has been employing technological advances in electronic signatures for more than ten years, it noted.
Tokio Marine – Surety Group CEO Adam Pessin said: “Within our Surety Group, along with the entire Tokio Marine HCC organisation, we are continuously seeking out new technologies – or in this case, advancements in existing technologies – to simplify processes and create efficiencies within our business.
“As a leader in our industry in terms of underwriting knowledge and expertise, focusing on innovation gives us another competitive advantage and benefits our customers.”
In June, Tokio Marine completed the acquisition of GCube, a specialist renewable energy underwriter.