(Image source: New York Life website.)
New York Life (New York) has announced a collaboration with Cerner Corporation, a global health care technology company, to facilitate and simplify electronic health record (EHR) retrieval. The two companies say they have worked together to minimize friction in the life insurance application process for consumers and accelerate underwriting decisions.
The collaboration supports New York Life’s safely and securely accessing hospitals’ EHRs in near-real time with patient consent, according to a statement from the insurer. New York Life and Cerner say they have refined the solution to meet the needs of both consumers and insurance companies as well as to ease the administrative burden on healthcare providers.
“These efforts are an important part of New York Life’s ongoing drive to leverage digital health data to accelerate life insurance underwriting,” comments Alex Cook, head of Strategic Capabilities, New York Life. “With the support of these innovations, New York Life has reduced application processing time and streamlined the process for consumers to meet their life insurance coverage needs.”
“Reducing friction in the life insurance application process has proven to be incredibly relevant in today’s virtual world and tremendously beneficial to consumers,” adds Cook. “Through collaboration with Cerner and other leading partners, our investment in the growing digital health data ecosystem will continue to benefit both our customers and our industry.”
Near-Real-Time Digital Record Delivery
“At Cerner, we’re continuously innovating with intelligent solutions to make data more accessible to the people and organizations that need it,” comments Art Glasgow, SVP, Strategic Growth, Cerner. “We’re focused on helping life insurance companies return underwriting decisions quickly and accurately with near-real-time digital record delivery from across the country. Our collaboration with New York Life helps create a faster, more efficient process that improves the experience for both life insurance applicants and insurers.”