The Potential of Electronic Health Records and Life Insurance Underwriting
The potential is high in the near future for insurers to use EHRs (Electronic Health Records) for underwriting. First, it would improve the quality of underwriting by using verified medical data at the time of the application. Second, it would improve the user experience by reducing the burden placed on the users to answer medical questions.
Electronic health records and life insurance together can streamline the process of securing accurate estimates for coverage and speed the process. EHRs could drastically reduce the amount of time and energy needed to underwrite a case. The effort required to make this a reality is not trivial, and many insurers are looking for innovative partners to help them achieve this automation rather than driving this research and development work internally.
If you have any further questions, we are here to help. Contact us at The Ziff Agency directly.(Source: The Economist)