New Missouri law provides more paperless options for insurance companies sending out policy information. The new law allows the chance to receive documents from mutual and non-life insurance companies electronically.
"These new laws continue to leverage technology to maximize efficiency of insurance product delivery in Missouri," John M. Huff, director of the Missouri Department of Insurance, said according to Insurance Journal. "Using computers or tablets for accessing important information is a tremendous resource, and the insurance industry continues to remain at the forefront of this modernization."
The move toward digital insurance communication is part of a larger trend in the state of Missouri. A similar bill was recently signed into law and gives consumers the option to electronically display proof of auto insurance. New insurance laws go into effect on August 28.
The Houston Chronicle reports that going paperless is a move that can provide significant return on investment. The use of conversion services to turn physical files into digital documents allows for more flexibility and efficient business process automation. Additionally the lack of paper clutter opens up space for the storage of other things.
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