Insurance Technologies' News & Event Highlights
Learn more about what is happening at Insurance Technologies.
Harnessing the Power of Electronic Exchange Processing
Conducting business electronically is now the expectation
of the general population. It’s no longer a “nice to have”
for some; it’s expected by the public majority. With the
advent of mobile technology, increased online consumerism,
and a growing demographic of digital natives it would
behoove an aging industry to keep up with its own future.
Recently I was able to log into my previous employer’s “limited elections” 401(k) website, initiate a transfer and move my paltry savings into a completely new account without ever touching a pen and paper. The entire process was fast and easy. Most importantly, I had the expectation going into the process that I could do it electronically. If my 401(k) provider’s website had provided me with a form, which then required a wet signature, and me to actually mail it in, I would have wondered, “Why?”