John Hancock Insurance coverage has entered right into a strategic collaboration with Clareto to enhance its underwriting pace and effectivity.
This collaboration is a part of John Hancock’s technique to rework the life insurance coverage buy expertise.
As a part of the collaboration, the corporate will leverage Clareto’s community to amass the well being information wanted for underwriting functions in actual time with correct HIPAA authorisation from the shopper.
Furthermore, the insurance coverage brokers of the corporate will achieve entry to a whole discipline of digital well being information sources by a single-entry level. This can get rid of time and paperwork from the appliance course of.
John Hancock chief underwriter and vice-president of underwriting transformation Susan Ghalili stated: “At John Hancock, we’re dedicated to creating selections simpler and lives higher for our clients, and which means working daily to radically simplify the life insurance coverage buy course of and scale back the time from software to subject.
“We’re happy to be working with Clareto to additional advance the shopper expertise and supply our companies in a means that they not solely count on however deserve. This type of collaboration has the potential to form the way forward for the trade.”
Clareto CEO Dave Dorans stated: “We are building an industry-leading network to enable access to electronic health data for insurance underwriting and claims, typically only requiring a standard HIPAA authorization. We are convinced this data can be a big part of the solution to transforming the customer experience for insurance products.”
Final 12 months, John Hancock rolled out a brand new life insurance coverage resolution devised for People residing with diabetes.