Improving the Insurance Buying Process: A Simplified Telephone Interview

by Yona Wright on July 30, 2014

The ExamOne integrated supply chain is a single-source requirement acquisition solution for managing all underwriting requirements. It is the foundation of our straight-through process. Agents electronically collect the amount of information desired using a short ticket of full Part I e-application. ExamOne electronically collects Part II information and any remaining Part I information, producing an “in-good order” application with data output specified by you, the client.

Our most recent blog discussed how we can help simplify the life insurance buying process. This blog describes how the call center simplifies the process. The interview is a one-stop-shop with a continuum of services designed to improve the underwriting process and reduce cycle time, such as reflexing additional lab requirements, reflexing to APS retrieval and reflexing to the prescription database.

When an applicant applies for life insurance, they must complete a health history interview. During this part of the process, applicants either dial in to our call center or receive an outbound call and are then asked a series of questions determined by the home office. Utilizing the call center for the applicant’s interview relieves the agent of asking medical questions face-to-face with their client. Some applicants don’t feel comfortable answering personal health and family questions with an agent, who may be their next door neighbor or friend. They feel more comfortable disclosing this information to a third party source. The phone interview offers the applicant the ability to spend less time completing the application by answering the questions once and offer the convenience of a toll free number with a wide choice of call times.

At the end of the interview, applicants can agree to voice signature. This offers several benefits:

  • It eliminates the need for the examiner to capture the signature during the exam
  • Reduces the possibility of missed signatures on the paperwork
  • If an exam is needed, the interviewer can schedule it at the end of the interview with the applicant already on the phone, reducing another call to the applicant
  • The scheduling system allows the interviewer to offer the applicant a convenient choice of appointment dates, times and locations, including the ExamOne Patient Service Center option.

Recently, ScriptCheck was updated to be included in the interview.* A ScriptCheck report is requested and delivered back to the interviewer during the call.  This allows us to reconcile and to verify any medication or impairment discrepancies with the applicant while they are still on the call.

We have received valuable feedback from applicants who have gone through the interview process.

“…thank you, that was less painful.”

“…I appreciate you explaining everything to me.”

“…thank you for your patience. It has been difficult for me in the past trying to get this done. I really appreciate this.”

We continue to find ways to improve this part of the process for the applicant, the home office and the agent.

 

 

 

 

*Based on client participation

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