John Hancock launches data-driven underwriting to eschew medical tests

John Hancock has launched a new underwriting platform, ExpressTrack, designed to accelerate life insurance distribution through big data.

Qualifying customers receive underwriting decisions in three days, without the need for doctor visits or blood work, according to Brooks Tingle, SVP of marketing and strategy. The new channel was developed by John Hancock’s underwriting, medical, product, advanced analytics and IT teams.

“ExpressTrack uses a proprietary process that leverages data and analytics, along with traditional underwriting practices, to eliminate the need for invasive medical tests and lengthy medical questions, particularly for healthier buyers,” Tingle said.

Consumers with “favorable health profiles” are most likely to benefit from ExpressTrack, according to John Hancock. Customers begin the application process by submitting basic medical information through an advisor on either JH Life eTicket or Paper Ticket forms, available for single-life term submissions. Individual applicants are then considered for ExpressTrack.

The insurer is increasing its exploration of digital technology to improve the life insurance customer experience. It launched a program with the health-data company Vitality in 2015, which allows customers to share certain fitness and diet information with the insurer to get discounted premiums. Last year, John Hancock expanded its Vitality program to include individuals aged 71 to 90.

“Both ExpressTrack and John Hancock Vitality are designed to make life insurance more accessible and appealing to today’s consumers,” said Tingle. “ExpressTrack makes it easier to buy life insurance, and John Hancock Vitality makes it more engaging and rewarding to own life insurance.”