John Hancock has entered a collaboration with insurtech Human API to assist in sharing medical information about policyholder prospects.
Human API's platform, offers a digital experience for consumers to share access to electronic health records electronically in real time. By getting access to these, John Hancock expects to improve speed and efficiency in purchasing insurance, as well as simplifying the process.
Susan Ghalili, VP, Underwriting Transformation and Chief Underwriter of John Hancock Insurance shared, “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.”
Along with enabling customers to share their current and historical medical information via a digital, moving forward John Hancock will work towards personalized review process for each of its applicants.
“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,” says Brooks Tingle, president and CEO of John Hancock Insurance. “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."
Andrei Pop, CEO at Human API states, “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.”
