EL SEGUNDO, Calif.--(BUSINESS WIRE)--VoiceVault announces that their voice biometric e-signature solution has been selected by one of the top five U.S. health insurance companies to facilitate the execution of applications for health insurance over the phone. With this announcement, VoiceVault’s continuing leadership position is reinforced as they are now delivering voice signature solutions to three of the top five US based health insurance organizations, which combined, cover 174.6 million lives.
VoiceVault’s biometric e-signature solution provides a ‘speak on the dotted line’ capability to phone and smartphone-based transactions. Using an individual’s voice to perform the e-signature, it enables the implementation of legally binding signature under E-SIGN Section 106.
The results are significant; companies who have adopted voice signatures as part of the health insurance sales process have increased telephone sales closure rates by over 25%. Organizations are also able to adhere to ‘go green’ mandates and reduce administrative costs associated with the typical paper trail that accompanies hand-written signatures by up to 80%.
"Efficient application processes are critical as health insurers prepare for the massive consumer migration from small group to individual plans as part of healthcare reform”, commented Julia Webb, VP of Sales and Marketing for VoiceVault. “Our voice signature solutions are ideally positioned to make the process easier for both the consumer and the insurer. This new contract is yet another validation of the value of being able to generate a legally binding signature over the phone.”
ABOUT VoiceVault
VoiceVault is a private voice biometric company that focuses exclusively on the development and deployment of voice biometric solutions in the financial and healthcare sectors.VoiceVault is a US based company (El Segundo, CA) with an R&D center in the UK.
VoiceVault's solutions use an individual’s vocal characteristics for biometric identity verification over the phone, web, or via mobile and smart device applications. They rely on the simple fact that speaking is completely natural and effortless and that no two voices are exactly the same. They enable the delivery of data and application access control; transaction authorization; identity verification; e-signature provision and out of band authentication solutions.
Biometric voice-based solutions enable business processes to enhance multifactor authentication with something you are - your voice.