Before launching into our Q I, it seems relevant (and interesting) to recall here my own days as a tech analyst when “going paperless” was one of the paradigms of Web 2.0. Looking back over a decade, I cannot help but think of the early innovators like DocuSign, which is still around, and a dozen others that hit the dead pool. And discussing new horizons in this field with Floyd, I’m reminded of just how far and fast technology evolves. Here’s what InsureSign’s CEO had to say about his company’s most recent moves.
Phil Butler – The digital signature software industry is a highly competitive space. Can you go over briefly InsureSign’s main points of differentiation?
Joe Floyd – There are a lot of e-signature software companies out there, but we’ve differentiated ours by simply focusing on making the signing process as easy as possible for our users and their customers. When we talk with our users who’ve tried other e-sign tools, we repeatedly hear that document set-up, send-off and signing are comparatively easier and faster with InsureSign. For people in the hospitality industry who want to book more events, secure more catering contracts or more simply manage vendor agreements, we make it possible for them to easily secure signatures in minutes.
Phil Butler – I ran a mini-comparison of InsureSign at G2Crowd versus some competitors like Adobe and discovered that your service clobbered other platforms across the board. Can you tell readers how a relatively unknown business there in Charleston, SC managed to outdo the world-class competition in only seven years?
Joe Floyd – Since day one, we’ve focused on being best in class for usability and customer service. Our users not only enjoy the simplest document signing process, but they also have access to numerous innovative and automated “bells and whistles” that further simplify processes. We offer all InsureSign users unlimited signatures, documents and templates each month, and the benefits of audit trails, auto reminders, auto archival and backup, company branding and more.
Phil Butler – I notice that many of your current clients are in the insurance and financial sectors. Where do you see the most significant opportunity for future growth for your company?
Joe Floyd – We currently have thousands of businesses of all sizes using InsureSign, from a local soccer camp to regional dentistry chains to national insurance companies. We have several hospitality clients, from hotels to event venues, and we see the hospitality industry as a key growth area. We still find that many event sales and catering managers are sending PDFs or Word docs for signatures, and are losing out on deals because they’re making the closing process cumbersome and difficult for potential customers. With InsureSign, hospitality professionals can stand out from the competition, and easily and affordably adopt our e-signature software (no additional budget approval necessary).
Phil Butler – Earlier this year you released a premium plan for users which included features like text-message signing and in-person signing. Can you tell us about innovations InsureSign is currently working on?
Joe Floyd – Yes, through our premium plan, we offer a suite of features that aren’t available anywhere else. Hospitality pros can secure digital signatures via text message and during in-person meetings, create reusable forms, secure more Yelp reviews or Facebook likes and more. As for new innovations, we just rolled out multiple language support and a recall/redo option that makes it easy to adjust documents that have already gone out.
A decade ago we were amazed at being able to do a digital signature and the first smartphones. Today, we’re on the threshold of AI and once unheard-of capability. For InsureSign, as has been the case for many successful technology startups, creating a great product has led to further expansion into the wider realm of business. For hospitality, or for any business dependent on contractual agreements, technology like Joe Floyd’s company has innovated will always be needed. And for those who say the wheel cannot be reinvented, it’s important to remember John Boyd Dunlop, the man who took inflatable tires to market. There’s utility in simple ideas that work better.