MEDIA ADVISORY

eSignSystems to Demonstrate How Electronic Signatures Can Help Insurers Improve Performance and Customer Satisfaction during the Insurance Application Process

Electronic Signing Room Application for Insurance Industry will be showcased at the 2009 IASA Annual Educational Conference & Business Show

Lee, MA and Orlando, FL — June 3, 2009 — (2009 IASA Annual Educational Conference & Business Show, Booth # 1423)Wave Systems Corp. (NASDAQ: WAVX)

Problem: Insurance companies spend a significant amount of time and money processing the applications of new customers.  Prospective insureds must sign multiple documents—including the application and separate consent forms in order to complete the application and underwriting process.  Traditionally, these forms are signed with an insurance agent or broker present, then mailed or faxed back to the carrier’s home office, before underwriting can begin.

Solution: By enabling potential insureds to electronically sign their applications and forms online, insurers can eliminate the costs associated with overnight mailing and faxing, as well as reducing the cycle time for policy issuance. This electronic process can increase closure rates and significantly decrease customer acquisition costs—approximately 2/3 less than the traditional offline acquisition costs, according to a report issued by Forrester Research last year on the costs of eBusiness operations and customer acquisition.

"Electronic signatures can offer tremendous advantages for insurers seeking to reduce costs on processing applications from new customers by increasing ‘front end’ operational efficiencies," said Kelly Purcell, executive vice president for Wave Systems’ eSignSystems division. "In addition, we believe that many of today’s consumers are increasingly more comfortable conducting transactions online, and this extends to the purchase of insurance."

What: An electronic signing room application developed for the insurance market available as part of the eSign Transaction Management Suite, which enables insurers to securely deliver, track, sign and store documents electronically.

Where: 2009 IASA Annual Educational Conference & Business Show, Orlando, Booth # 1423

When: June 7-10, 2009

Experts Available: Kelly Purcell, executive vice president, eSignSystems, is available for meetings at the IASA Conference to demonstrate the solution. For more information or to arrange a meeting, contact her by phone at (602) 615-8092 or email at kpurcell@esignsystems.com.

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About Wave Systems Corp.

Wave is a pioneer in hardware-based PC security that provides software to help solve critical enterprise PC security challenges such as data protection, strong authentication, network access control and the management of these enterprise functions.  Wave is a founding member of the Trusted Computing Group (TCG), a consortium of more than 100 companies that forged open standards for hardware security.  Wave’s EMBASSY® line of client- and server-side software leverages and manages the security functions of the TCG’s industry standard hardware security chip, the Trusted Platform Module (TPM) as well as hard drives that comply with TCG’s “Opal” self-encrypting drive (SED) standard.  Self-encrypting drives are a growing segment of the data protection market, offering increased security and better performance than most existing software-based encryption solutions.  TPMs are standard equipment on many enterprise-class PCs shipping today and have shipped on an estimated 300 million PCs worldwide.  Using TPMs and/or SEDs and Wave software, enterprises can substantially and cost-effectively strengthen their current security solutions.  Visit http://www.wave.com for more information.

Safe Harbor for Forward Looking Statements

This media advisory may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends.  The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements.  Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.  Wave assumes no duty to and does not undertake to update forward-looking statements.

 

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For more information please contact:

Company:

Kelly Purcell
602-840-1199 (O)
602-615-8092 (C)
kpurcell@esignsystems.com