The Role Of Notarization In The Insurance Industry

KEY TAKEAWAYS 

• Notarization is vital in insurance to authenticate important documents
• Essential insurance papers, like claims forms and affidavits, must be notarized to prevent fraud
• Online notarization platforms like NotaryLive offer convenience, security, and efficiency for insurance professionals

Notarization plays a crucial role in the high-stakes world of insurance. 

In this blog, we'll cover the role of notarization in the Insurance Industry and how remote online notarization can benefit business workflows to optimize a user's experience. 

1. What Documents In The Insurance Industry Require Notarization?

Many important insurance documents need to be notarized.

These include:

• Insurance Policy Applications when starting new coverage
• Citizenship Affidavits for licenses
• Claims Forms when filing for benefits
• Beneficiary Designations that dictate payouts
• Power of Attorney Forms for legal representation
• Affidavits certifying information is true
• Release of Information Forms for data sharing
• Subrogation Agreements for claim reimbursement
• Consent Forms for private health data
• Settlement Agreements for claim resolutions

By notarizing these and other documents, insurance professionals certify their authenticity. This prevents tampering or falsification.

2. The Notarization Process

When notarizing insurance paperwork, several key steps must be followed: 

1. The signer personally appears before the notary with a valid ID.
2. The notary verifies the completeness and wording of the document.
3. The notary cross-checks the signer's ID and signature.
4. Details like the date and signatures are recorded in a notary journal.
5. The notary applies their stamp or seal to the document.

This standardized process ensures security and enforceability.

It deters fraud across various insurance lines - from auto to home, property, casualty, and life/health. 

3. Benefits of Online Notarization

Today, online notarization platforms like NotaryLive provide a more efficient and a more secure way to authenticate digital insurance documents.

Key benefits include:

• Immediate convenience - no need to meet in person
• 24/7 access from anywhere
• Secure digital journals & recording
• Tamper-evident seals & Encryption
• Smoother customer experience

With remote online notarization, insurance professionals can authenticate policies, claims, and agreements faster. 

This improves customer satisfaction while upholding document integrity. 

4. Using NotaryLive As Your Go-To RON Resource

NotaryLive recognizes the challenges that notarization may pose to the Insurance Industry. 

With remote online notarization, however, NotaryLive can easily get documents notarized from whenever, wherever. This means you can legally get documents notarized from the comfort of your own home or office. 

If you require our services, our 24/7/365 pool of notaries is on standby! 

How NotaryLive works in 4 simple steps: 

 Click the button below to get started, 

Notarize Now! 

FAQ For Common Notarization

Despite its importantce, notarization is subject to misconceptions. Here are answers to the most common questions: 

• What's the notary's role? 
  • Notaries act as impartial witnesses only. They do not provide legal advice or service recommendations. Their sole function is to certify authenticity of signatures. 
• Is notarization always required?
  • While optional in some cases, many insurance documents do need mandated notarization. Check your state's laws and company policies. 
• Can another notary re-notarize a document?
  • No. Only the original notary can re-notarize a document if changes are made. 

**Legal Disclaimer We are not lawyers or attorneys and do not give any legal advice. Please check with your attorneys, advisors, or document recipients if you have any unanswered questions about your documents.**

Relevant Blogs

• What Is NotaryLive?
• These Businesses Can Benefit The Most From Online Notary Services
• Business Account (+Premier) With NotaryLive 
• Say Goodbye To PaperWork: How eSign Revolutionizes Businesses