REDWOOD SHORES, Calif., Nov. 23, 2010 /PRNewswire/ -- Communication Intelligence Corporation ("CIC") (OTC Bulletin Board: CICI), the leading supplier of electronic signature solutions for business process automation in the financial industry and the recognized leader in biometric signature verification, announced today that its eSignature solutions have been awarded the prestigious eSignature Seal of Approval from the Life Insurance Direct Marketing Association (LIDMA) at the 7th annual Fall Meeting & Showcase held at the Four Seasons Hotel in Seattle.
CIC's eSignature is part of LIDMA's eProcess Flow Initiatives which is being adopted throughout the industry helping insurers improve efficiency and reduce net operating cost. The key challenge facing insurers today is achieving cost effective sales growth in the face of a constricted economy. Leveraging CIC's electronic signature has emerged as the key enabler in achieving that objective. According to a recent Gartner study an estimated 75 to 100 life and P&C insurers are currently pursuing eSignature based deployments. In addition, Gartner recommends that insurers focus on eSignature vendors who possess core infrastructure and workflow knowledge.
"Each year our Fall Meeting & Showcase provides LIDMA members with the most efficient and cost effective ways members can serve their current clients and bring life insurance solutions to new policy holders," said Pat Wedeking, President of LIDMA. "Through its participation in LIDMA and our Fall Meeting & Showcase, Communication Intelligence Corporation proved that it is among the elite insurance solution providers in our industry."
"We are pleased with the increasing recognition by insurers that eSignature technology provides the solutions to the challenges they face and that analysts are acknowledging and recommending the key factors that differentiate CIC from its competitors," stated CIC's President, Guido DiGregorio. "These factors include successful large scale deployments with 6 of the top 10 insurers, both on premise and hosted solutions, together with a complete suite of enterprise class products from SKUs, APIs and SOA architectures that complements our core competence to optimize any insurer's solution."
Communication Intelligence Corporation's (CIC) products enable companies to achieve truly paperless work flow in their eBusiness processes by providing multiple signature technologies across virtually all applications in SaaS (Software as a Service) and fully deployed on-premise delivery models. CIC based solutions afford Straight through Processing (STP) which delivers increased revenue generation by enhancing the customer experience and significant expense reduction through paperless and virtually error free electronic transactions.
Industry leaders such as AGLA, Allstate, American Family, Charles Schwab, JP Morgan Chase, Nationwide (UK), Prudential, Snap-on Credit, Travelers, Wachovia, Wells Fargo and WFG (World Financial Group) chose CIC's products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing millions of end users, with over 500 million electronic signatures captured, eliminating the need for over a billion paper documents. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. For more information, please visit our website at www.cic.com.
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The not-for-profit organization is committed to helping members boost their revenues and reduce costs. For more information, visit www.lidma.org.
Forward Looking Statement
Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.
CIC, its logo and the Power to Sign Online are registered trademarks. All other trademarks and registered trademarks are the property of their respective holders.
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