John Hancock and Clareto Streamline Life Insurance Purchase Process

Clareto provides access to more than 52 million unique patient records through integration with state and regional health information exchanges and national EMR vendors.

(Image source: John Hancock homepage.)

John Hancock (Boston) has announced a strategic relationship with Clareto, a Richmond, Va.-based provider of digital solutions to acquire and aggregate electronic health data, aimed at improving the insurer’s underwriting speed and efficiency as part of its stated commitment to transform the life insurance purchase experience.

Clareto’s capabilities include enabling access to more than 52 million unique patient records through a HIPAA-compliant integration of state and regional health information exchanges and national electronic medical record vendors, according to a statement on the John Hancock relationship. John Hancock will use Clareto’s network to obtain the health data required for underwriting purposes in real time with proper HIPAA authorization from the customer. Through the collaboration, John Hancock life insurance agents will gain access to an entire field of electronic health data sources via a single-entry point, which the vendor says will eliminate time and paperwork from the application process.

“At John Hancock, we’re committed to making decisions easier and lives better for our customers, and that means working every day to radically simplify the life insurance purchase process and reduce the time from application to issue,” comments Susan Ghalili, VP, Underwriting Transformation and Chief Underwriter, John Hancock Insurance. “We’re pleased to be working with Clareto to further advance the customer experience and provide our services in a way that they not only expect but deserve. This kind of collaboration has the potential to shape the future of the industry.”

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“We are excited to be working with an innovative and forward-thinking company like John Hancock,” comments Dave Dorans, CEO, Clareto. “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.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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