Progress is slowly being made, however. A digital signature is an electronic identifier, in this case between the underwriter and the policy holder, that has the same force and effect as a manual signature. Easy does it At present, if you live in certain states you can buy auto insurance and term life insurance online without the need for you to sign any paper documents. Both types of insurance are relatively straightforward. A term policy is simple because it involves a fixed annual premium that continues for the life of the policy.
Insurance is a game of calculating the odds.
Auto insurance, too, only takes into account the applicant's driving record and history of traffic violations and make and model of car. As a result, you see more about auto and term life quots than other forms of insurance. On the other hand, long-term medical care insurance, for example, is much more subjective and requires more nuanced deliberations. Whether the Internet is the right medium for such transactions remains to be seen. However, for access to data and free quots, the Internet is a great boon to consumers.