Producers

In the fall of 2018, ExamOne launched our expanded exam center network by adding hundreds of Quest Diagnostics® Patient Service Centers (PSC) to our life insurance exam network. This year we’re adding even more Quest locations to provide convenient options for life insurance applicants across the country. With access to more than 2,000 exam center locations, life insurance applicants have the convenience of choice not found anywhere else in the industry.

Exam centers deliver higher completion rates and faster turnaround times

Based on an analysis of exams completed between January 1 and August 31, 2019, those completed in-center (at an ExamOne office or Quest PSC) showed the highest completion rates and fastest turnaround times. Exams scheduled at an exam center were, on average, completed 90% of the time, compared to 73% for mobile exams. Additionally, exams were completed in less than 11 days at in-center locations, compared to over 12 days for mobile.

In-center exams compared to mobile exams

Analysis by generation

In-center exams show the highest completion rates across all generations, with 90% of scheduled in-center exams being completed among millennials and Gen Xers, compared to completion rates for mobile exams at 77% and 74%, respectively. The greatest difference in completion rates appears in the older age groups. This could be attributed to a greater sense of comfort in visiting a medical office if individuals in the two older generations visit PSCs regularly for other age-related health screenings.

Completion rates by generation

Exam center options deliver faster turnaround times for all generations in comparison to mobile, but we see the fastest results in the two oldest generations, with just 7.2 days for the silent generation. It is possible this is related to the applicant’s daily schedule when considering that many in this generation are likely retired or working part-time, while baby boomers are moving closer to that stage of life as well.

Turnaround times by generation

Interestingly, there was little to no difference in both completion rates and turnaround time when comparing gender within these generations.

Analysis by face amount

Completion rates and turnaround times also vary across face amounts. For reference, in 2018 the average face amount of policies for which exams were completed by ExamOne was $500,279, while the median was $250,000. Again, we see exam centers consistently deliver higher completion rates in comparison to mobile exams.

Completion rates by face amount

Turnaround times for exam centers are generally more than one day faster than mobile. Additionally, higher value policies are correlated with the fastest turnaround times, as face amounts over $1 million average a 10.7 day turnaround.

Turnaround time by face amount

Applicants want convenient choices

Applicant choice is also an important factor to consider when it comes to the location of the exam. Between January and August 2019, nearly 6,000 life insurance applicants completed ExamOne’s applicant satisfaction survey after their exam at an ExamOne or Quest office. Of those, 48% said they chose the in-center location because it was the most convenient place for them. Others indicated the in-center locations offered the best appointment time for their schedule (19%), or that they felt most comfortable completing the exam there (15%).

Learn more about our expanding exam center network.

In September our industry celebrated Life Insurance Awareness Month (LIAM). We hope you joined us in spreading the word about the financial importance of life insurance. Here are a few ways ExamOne celebrated LIAM in 2019.

Increasing awareness Throughout September, our teams focused on increasing awareness on the importance of life insurance. We offered educational videos and materials that agents can give to their clients to highlight the value of life insurance and living a healthy lifestyle. These resources are still available on our website, blog and social media.

Stepping it up On the home front, we hosted employee walks in coordination with our theme, “Taking Steps to Protect”. This walk provides employees an opportunity to step away from their desks, take a healthy, brisk walk and learn more ways they can protect their loved ones.  

Rewarding double loyalty points To show our appreciation for your business, we rewarded double loyalty points* in celebration of LIAM. For every completed exam ordered online, we deposited two points to users’ profiles. Learn more about our loyalty program and how to redeem your leads. 

Color therapy Thank you for sharing your creative side with us this month.It was great to see all of the participation in showing support for life insurance with our LIAM coloring page this year.

While September was a special month-long recognition of the importance of life insurance, throughout the year it’s important that we continue to innovate and provide tools that make the life insurance journey easier for applicants.  

*Terms and conditions: Subject to carrier participation. Orders must be placed on ExamOne’s online portal.

Client feedback drives creation of four new project teams

October 8, 2019 Brokers

Earlier this summer, we completed our second annual customer satisfaction survey. Through this survey, clients are asked to deliver honest feedback on ExamOne services. Our goal is to consistently meet our customers’ expectations, and this annual customer survey is a key tool in measuring our performance. Overall satisfaction with exam centers and turnaround time Last […]

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9 ways to help promote life insurance awareness

September 30, 2019 Applicants

What can you do to help raise awareness of the need for life insurance? You may be an insurance agent or an individual who wants to spread the word on the importance of protecting loved ones. Use the below resources to help spread this essential message.  1. Share educational video content to help encourage and […]

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Expanding exam centers across the country for more appointment options

September 30, 2019 Applicants

2,300 exam centers to be available to life insurance applicants this fall In the quest to improve the life insurance applicant experience, ExamOne is continuing to open up more appointment options through our nationwide network of Patient Service Centers (PSC). Throughout  2018 and into 2019, we grew our existing network to 1,500 exam centers, creating […]

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New digital option to capture health history information caters to consumer preferences

September 9, 2019 Carriers

Enhancement expected to increase completion rates and reduce turnaround time We are excited to announce the implementation of our new data collection platform. This initiative provides life insurance applicants another option to complete their personal health history questionnaire. Developing the platform “As we designed this interface, we wanted it to be very intuitive and user-friendly,” […]

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Tools to help your clients complete the life insurance application process

August 22, 2019 #Committed2 You

So you met with your client, helped determine their life insurance needs, and filled out the application. Weeks have passed and now the case is expiring, incomplete. Here are a few solutions to help avoid this phenomenon when clients don’t schedule their paramedical exam. We are here to help you and your clients experience a […]

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Life insurance tools and resources at your fingertips

July 24, 2019 Applicants

How can ExamOne make it easier for you to order life insurance exams and educate your applicants on the application process? At home, you may have Alexa® to help with daily tasks. In your car, you probably have a GPS to help you navigate. And on your phone, Siri® is always at your fingertips to […]

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Learn more about the life insurance application process

June 28, 2019 Producers

Congratulations for taking the important step to protect your family with life insurance. We are here to help explain the process and steps you need to complete for an easy and successful application experience.  Life insurance agents have shared with us some of the most common questions they receive from their applicants during the process. […]

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Why am I getting a blood draw to apply for life insurance?

June 28, 2019 Producers

You are in the process of applying for life insurance and have found out you need a medical exam (also referred to as a paramedical exam) that includes a blood draw.  You may be wondering what is involved and want more details on why and how it will take place. We are here to walk […]

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