1. Annuity E-Signature Automation
Its time has come!

2. Introduction to our Presenters
Margoth Garcia, Operations Relationship Manager, New York Life
Pem Guerry, Executive Vice President, SIGNiX
Brett Mendenhall, Director of Strategic Partnerships, iSign Solutions
Brent Osborne, AVP of IAO Client Solutions, Lincoln Financial Group

3. AGENDA The NEW IRI E-Sign Standard
IRI E-Sign Working Group – 3 Year Roadmap
Questions

4. WE NEED TO CATCH UP TECHNOLOGICALLY!
NAVA – a pioneer in 2006!
Other industries, including other financial services, have adopted much faster.
Consumer expectations are very different now.
E-signature technologies have improved.
Mobile technologies increasingly common.
Momentum is accelerating again!

5. IRI Straight Through Processing (STP) The New IRI E-Sign Standard

6. What was the NAVA/IRI E-Sign Standard
Best Practices for the Annuity Industry
Interoperability
Related to SPeRS
Created in 2006, modified in 2010

7. STP Roadmap

8. Why did we change the standards
Brett
Original standards written 10 years ago and technology has changed and will continue to change

9. Why did we change the standards
The original standard was overly prescriptive
Credentialing
Limited Technology
NAVA Certification
3rd party Authentication
SPeRS
Brett
Required credentialing for the signing event including establishing a user name and password
Limited to: biometric handwriting, click-wrap, and PKI
Required NAVA Certification of eSignature Vendor
Proof of Identity previously required 3rd party authentication
SPeRS is merely a best practice and parts did not apply to Annuity Industry. IRI Standard is specific to Annuity Industry

10. Why did we change the standards
They were holding back adoption!

11. What are the big changes
Standard 51 - Changed authentication
Standard 52 - Removed credentialing
Standard 72 - Record Retention Management
Standard 51 Brett - - Expanded to use authentication based on risk of document and leaving it up to the carrier or distributor to determine (Brett)
Standard 52 Brett – It created an extra requirement that is not needed when using authentication ( Brett)
Standard 72 Margoth - What do you retain? All in flight documents or just the final package
Why this is important for carriers from a customer experience perspective

12. New IRI E-Sign Standard
More flexibility to use varying technology solutions
Margoth
Think of Apple stores with barely any registers
receipts instead of paper receipts
Samsung pay/Apple Pay
Yesterday’s technology has changed, we need to be more inclusive of new technology and how millennials are driving business models

13. IRI E-Sign Working Group 3-Year Roadmap

14. What happens if we create a Plan & then go execute it?
Where we are
Where we’re going
How we’re going to get there
Carrier considerations
Distributor considerations

15. Where We Are Adoption Usage Limitations
Two IRI distributors (out of 17) & 14 IRI carriers
(out of 33) are live in Production
Usage
Low
Limitations
For typical distributor, approximately half of their carrier partners are live
Limited ownership types
Limited transaction types (no replacements)

16. Where We’re Going

17. How We’re Going To Get There
Industry Building Blocks
E-Sign Capability (Distributor & Carrier)
Distributor to Carrier Attachments
951 eForm Usage
Why is this so important?
Acceptance of ACORD 951-E as the ceding carrier
Adoption of the ACORD 951-E as the issuing carrier
Ceding Carrier Data Integration in OE
Carrier to Carrier Attachments

18. How We’re Going To Get There
WORKING GROUP INITIATIVES
Modernization of IRI standards/certification
Avengers Assemble
Vendor-neutral education
Cost benefit analysis tool(s)
Advocacy pieces for carriers & distributors

19. Annuity E-Signature Automation
Its time has come!
Questions?
IRI E-Sign Standard
IRI E-Sign 3-Year Roadmap