e-Signatures would offer consumers the ability to electronically "sign" legally binding documents received and sent via the Internet, an initiative that was recently passed by the House of Representatives (H.R. 1714) and the Senate (S. 761), which were championed by Reps. Tom Bliley (R-VA), Jay Inslee (D-WA) and Sen. Spencer Abraham (R-MI).

These and other results were announced today by Velvet Beard, Vice President of Product Management, QuickenInsurance, a speaker at the EFSC's seminar entitled "The e-Signature Revolution: Are You Ready?" in Washington, D.C.

"We are extremely encouraged by these results showing American's growing acceptance of what is surely a revolutionary technological application," said Beard. "e-Signatures would enable consumers to buy insurance policies or close home loans directly online, just as if the consumer stepped into a brick-and-mortar establishment, minus the processing and appointment hassles."

The survey further reveals demographic trends that point to growing support for the adoption of e-Signatures. Of Internet-connected households who have previously purchased goods or services online, 43% favor the adoption of e-Signatures compared to 50% who are currently not in favor of this technology.

According to the survey, more men support e-Signatures compared to women. Nearly two in five men (38%) support the technology, whereas only 23% of women are in favor of adopting e-Signatures.

Furthermore, consumers between the ages of 18-34 are more likely to support e-Signatures than those 50+. Forty-one percent of consumers under 35 support e-Signatures, compared to 18% of consumers ages 50+.

"Our survey indicates that almost half (46%) of Internet-connected households are comfortable submitting personal information online," adds Jeremiah Buckley, General Counsel, EFSC. "Coupled with the e-Signature statistics, our study demonstrates a solid market willing to utilize the added convenience and cost savings of this technology for consumers and industries. Adopting e-Signature legislation would allow many industries, such as insurance, to expand online services and transactions, which are limited in the current e-commerce environment."

The Online Insurance Usage telephone survey was conducted by Bruskin Audits & Surveys, which polled a random sample of 467 Americans, ages 18+, from February 25-27, 2000. The overall margin of error is a maximum of +/- 5 percentage at the 95 percent confidence level. Intuit's QuickenInsurance and the EFSC jointly commissioned the survey.