With Electronic Health Records, you're able to streamline your sales process and offer a massive benefit for your clients, as it greatly lowers the chances they’ll need to take an invasive medical exam.
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How does it work?After sharing your unique iLife link, your client can browse for policy options on their own or consult with you. After they select a policy, your client can simply log in to their healthcare provider's site using iLife's Electronic Health Records feature and securely submit their health records! |
What are Electronic Health Records? (EHRs)
EHRs are collections of patients’ medical history stored in a digital format.
2. How do they affect the life insurance application process?
Traditionally, if a client wanted to apply for life insurance, the underwriting process would necessitate examining all of their health records. Because their information wasn’t stored in a digital format, clients would have to have their healthcare providers send them to the insurance companies, which could take a very long time.
Additionally, clients would oftentimes have to participate in physical examinations which can be time-consuming and invasive.
With EHRs, however, the life insurance underwriting process is massively expedited. Instead of the traditional wait time of 4-6 weeks to deliver health records to an insurance company, clients can facilitate the entire process in as little as a few minutes.
3. Why are they important for life insurance agents?
Two significant reasons:
EHRs drastically decrease the life insurance application process time for clients.
EHRs also significantly decrease the need for clients to participate in time-consuming, invasive physical exams.
Both of these factors contribute to higher chances of a client journeying through the entire application process and you closing the sale.
4. What other value propositions do they offer life insurance agents?
Convenience: For clients, the task of finding their healthcare provider and connecting their records to is extremely simple and convenient. There is no need for clients to go through an extensive process to procure their health information or take invasive medical examinations.
Security: The vast majority of EHR systems are encrypted and HIPAA compliant meaning clients never have to worry about their confidential information being leaked or sold to 3rd parties.
Streamline Back-Office Processes: EHRs significantly reduce the administrative burden on agents by providing them data in just minutes. For example, instead of participating in time-consuming back and forth conversations with clients to secure information, agents immediately have all the records they need.