The surety bond industry has been stubborn when it comes to any kind of change. For the most part, things have been done the same way for years while ignoring technological advances. As of recent, companies have begun to embrace the digital age and have been harnessing it to improve and evolve the industry.
With technology extending in to nearly every facet of life these days, it was only a matter of time for the surety business to give in. For years the most technologically advanced aspect of surety was visiting a surety company website and sending emails and faxes. This seems to be changing quite rapidly. What we are starting to see is online applications, instant approvals, and even the ability to pay for bonds online. The surety business is already a quirky business which many find cumbersome, but when digital means are used, it makes the process much easier for bonding companies, people looking for bonds and the sureties writing them.
The surety software that’s available now was specifically created to streamline the surety bond process. Software such as Surety Bond ProTools (SBPT) is paving the way for the industry’s digital movement. It provides the capability of going through the whole bond process online from applying to getting the final bond in client’s hands; other features include auto-indemnity agreement creation, auto-bond issuance, 100% Paperless (optional) and 1-click credit pulls.
The world of surety has operated the same way for decades. Surety Bond ProTools is a great example of how the surety industry is finally starting to evolve. You can find more information on Surety Bond ProTools and take advantage of its features free of charge by clicking here.