SOURCE: Wave Systems Corp.

Wave Systems Corp.

May 20, 2010 08:45 ET

eSignSystems to Demonstrate Electronic Signing of Life Insurance Applications at the 2010 ACORD LOMA Insurance Systems Forum in Las Vegas

LEE, MA--(Marketwire - May 20, 2010) -  eSignSystems, a division of Wave Systems Corp. (NASDAQ: WAVX) (www.wave.com) today announced that it will conduct demonstrations of its SmartSAFE electronic signature and vaulting solution at the 2010 ACORD LOMA Insurance Systems Forum, focusing on the future of insurance and technology. eSignSystems' SmartSAFE offers myriad benefits to insurance companies that can speed up the processing of new applications, and eliminate or reduce costs associated with handling and faxing paper documents. eSignatures can also add convenience for prospective policyholders, too, letting them sign applications in the comfort of their home.

What: Demonstrations of signing and storing life insurance applications using SmartSAFE

Where: Booth 154, Mandalay Bay Resort, Las Vegas

When: May 24-26, 2010

For years, many insurers have embraced "straight-through processing" -- an initiative that streamlines the issuing process to be more efficient and cost effective. Shortening the transaction-related processing time can translate into a higher probability that a policy will be issued on time. eSignatures can play an important role as more and more companies adopt straight-through processing.

"eSignatures are propelled by a rapidly evolving business process and workflow automation environment, as well as the need for companies to improve their competitive position by reducing the time and effort needed to close deals," according to Forrester's Bill Nagel in "Market Overview: eSignatures in 2010."

According to Forrester, eSignature adoption also is likely to increase because of regulatory pressures and efforts to minimize potential losses resulting from fraud. eSignatures can improve proof of compliance with an audit trail confirming that the signer received certain disclosures from delivery through policy acceptance.

"eSignatures are becoming recognized as a best practice for ensuring digital accountability of electronic transactions and we're thrilled to show how our SmartSAFE software can help to safeguard electronic documents, improve customer satisfaction and reduce regulatory errors," said Kelly Purcell, eSignSystems' Executive Vice President. "Over the coming year, we believe that those who adopt eSignatures can benefit from the competitive advantages those solutions offer."

The 2010 ACORD LOMA Insurance Systems Forum aims to help insurance carriers improve data integrity, meet regulatory requirements and stay competitive. It attracts C-level executives, line-of-business managers and IT staff.

About eSignSystems™ -- eSignSystems a division of Wave Systems Corp. (NASDAQ: WAVX) is a leading provider of lifecycle management of electronic legally binding signed documents, contracts and digital transactions. eSign Transaction Management Suite (eTMS) enables companies to manage business processes and transactions entirely online. eTMS organizations can immediately achieve regulatory compliance, improved productivity and efficiency in processing transactions, and significant cost savings through the elimination of document transportation costs, processing and storage. For more information, visit www.esignsystems.com.

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This press release may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Wave assumes no duty to and does not undertake to update forward-looking statements.

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Contact Information

  • Company:
    Kelly Purcell
    eSignSystems
    101 Morgan Lane
    Plainsboro, N.J. 08536
    602-840-1199
    602-615-8092
    kpurcell@esignsystems.com