John Hancock this week announced what the company is calling “a major step forward in significantly streamlining the life insurance buying experience” through a strategic collaboration with Human API, a leading health data platform, offering a simple, digital way for consumers to share access to their electronic health records (EHR) in real time.
Human API’s capabilities allow for EHR data collection from over 85% of U.S. healthcare providers (e.g., health systems, hospitals, clinics and physician offices). With the instant access to critical medical information such as lab results, medications, vital measurements and conditions this collaboration enables, John Hancock says it can further its efforts to build a simple and convenient buying experience that exceeds the expectations of today’s consumers and puts them in control of their personal information.
Human API will help John Hancock improve the speed, efficiency and ease of purchasing life insurance by enabling customers to share their current and historical medical information via a digital, HIPPA-compliant authorization process. John Hancock will in turn shift toward a more personalized review process for each of its applicants.
“We recognize some prospective customers are deterred by the time and effort involved in the traditional life insurance purchase process. Radically simplifying that process and reducing the time from application to issue is a top priority for John Hancock,” said Brooks Tingle, president and CEO of John Hancock Insurance. “We are reinventing the life insurance buying process and working in lock-step with like-minded distribution partners and innovative technology companies to make it happen.”
“By joining forces with Human API, we can embed a simple digital authorization into our new, electronic application process, enabling customers to share their medical information instantly,” added Susan Ghalili, VP, Underwriting Transformation and Chief Underwriter of John Hancock Insurance. “This is the level of service today’s consumers demand and we are excited to provide it, improving the overall experience for consumers, distributors and producers.”
This advance is possible because of Human API’s ability to harness the power of EHR in a way that simultaneously makes it easier for the customer to share his/her information while knowing their personal data is being transmitted securely.
“Consumers today have higher expectations for how they purchase goods and services,” said Andrei Pop, CEO at Human API. “Human API data allows insurers to reimagine the customer experience and holds the potential to transform the industry. We’re thrilled to be working with a bold carrier like John Hancock that is pushing innovation ahead in an industry that has not been keeping up with consumers’ expectations.”
To learn more visit johnhancockinsurance.com.