Implementing a pilot program can be an effective tool for measuring the impact of a new product or workflow. Over the years, we’ve helped dozens of insurers pilot new tests and tools. We have found the most successful studies have 3 things in common: a specific goal, sufficient data and a measurable outcome.

Setting up the pilot

  1. First, define a clear and specific goal and what is it you hope to learn from this pilot. For instance, you might want to find a way to reduce the costs associated with treadmill and routine EKGs. One way you may test this is to perform routine NT-proPNB screening on applicants ages 60 and older. Another scenario may be during the health history interview. By working to develop a well-crafted tele-app interview with appropriate drill-down questions, coupled with routine ScriptCheck reports, insurers may be able to successfully replace a large percentage of EKGs, or reduce the number of Attending Physician Statements (APS) ordered.
  2.  

  3. Next, make a comprehensive list of all inormation you wish to capture during the study and where this data will be recorded. The more data you collect, the more measurable your results will be. A list of recommended data points is listed below:
    • Policy number
    • Plan of insurance (term vs. perm)
    • Gender
    • Face amount
    • Tobacco use status
    • The basis for ordering the requirement (age/amount or “for cause”)
    • Final underwriting decision without the requirement
    • Final underwriting with the requirement
    • Cost of the underwriting requirement which includes the actual cost of the requirement, as well as incidental costs, such as underwriting review.

     

  4. Finally, analyze the results. During this stage, it’s important to determine if the underwriting requirement being studied merely confirms information available from other sources, or provides independent protective value above and beyond what was already known.

Using data to customize your workflow

Every company and pilot is unique. What works for one company may not work for another. Once you have your data, the analysis will reveal trends to help you identify what should be implemented to best support your company goals.

If you would like assistance in implementing a pilot, one of our professional services analysts can work with you to understand your goal(s) and set up a pilot that will help you achieve them.

 

Cystatin C

Using Cystatin C in older-age life insurance assessments.

Our clients tell us that controlling costs during the decision-making process and reducing application-to-issue cycle time are priorities within their new business teams. As older-aged individuals apply for life insurance, requirements designed for this market can become more time-consuming and cumbersome.

Many of today’s older-age evaluations include additional screenings to measure cognitive and frailty risks: clock drawing, delayed word recall and walking speed. These assessments may add time to the application process and increased cost for the insurer. However, recent studies indicate they could be replaced with a simple blood test: Cystatin C.

This white paper shows the correlation of Cystatin C levels and the impact it has on cognitive function and physical frailty. Download now.

Ask the Expert: drug trends in America

October 3, 2018 Ask The Experts

During one of our summer webinars, Betsy Sears, Executive Vice President, Laboratory Strategy and Sales, and Dr. Barry Sample, Quest Diagnostics Senior Director, Science and Technology, examined two of America’s populations for drug positivity rates by various drug classes. This included a workforce population and ExamOne life insurance applicants. Understanding the drug trends and positivity […]

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Behind-the-scene people helping provide peace of mind with life insurance

September 27, 2018 #Committed2 You

Last month, we featured our examiners who have “saved the day” during the life insurance application process. The personal interaction associated with health exams often makes examiners the “face” of ExamOne for the life insurance applicants. Now, we want to acknowledge more employees who could be considered the “ears” and “voice” of ExamOne. Meet some of […]

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Ask the expert: what else can I expect on the enhanced pre-populated lab slip?

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Earlier last month, we announced that we are enhancing our laboratory ID slip and will pre-populate applicant information on all ExamOne laboratory accounts, effective October 1, with the goal of providing a better experience for you and your applicants. Over the past two weeks, our team has received some great questions from our customers regarding […]

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An insurance company that has sensors on a customer’s water pipes to detect leaks? Or how about one that guarantees the aging population a spot in a retirement-type home? These are just a couple of customer loyalty benefits insurance companies in other countries are offering to their customers. Now, let’s translate this into life insurance […]

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September 11, 2018 #Committed2 You

September is Life Insurance Awareness Month, an industry-wide campaign that educates people about the importance of protecting their loved ones with life insurance. I have had first-hand experience of how coverage or lack of coverage can change families’ lives. Appreciation for protection early in my career As I think about the significance of this campaign, […]

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September celebrates Life Insurance Awareness Month

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As a leading provider of decision support products for life insurers, we are excited to support one of the industry’s important initiatives – Life Insurance Awareness Month (LIAM). Today, nearly 60% of adults own some type of life insurance, but research shows the coverage they have may not be enough. More than one-third of all […]

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Extra steps toward superior customer service – our “Life Insurance Savers”

August 24, 2018 Examiners

This time of year, we like to acknowledge the importance of our front-line and behind-the-scenes employees. During Life Insurance Examiner Appreciation Week (last week of August) and Life Insurance Awareness Month in September we want to highlight some of our employees who have “saved the day” for applicants and clients. These “Life Insurance Savers” regularly take […]

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Take action on World Hepatitis Day

July 27, 2018 Applicants

Each summer, the World Health Organization commemorates World Hepatitis Day on July 28 to spread awareness and understanding of the disease and its impact. Hepatitis is one of the world’s leading causes of death with 1.34 millions deaths a year. Currently, more than 300 million people are living with the disease. That is why it […]

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