prescription history

 

At ExamOne we are constantly looking for ways to improve the quality of our services and give your applicants a happier exam experience. One invaluable way for us to identify customer expectations, measure satisfaction levels, and uncover specific areas for improvement to the life insurance exam experience is through survey responses received from your applicants.

The results (shown in graphic) are based on feedback provided by life insurance applicants whose exams were conducted by ExamOne, whether by a paramedical technician at the applicants’ homes or workplaces, or at an ExamOne paramedical service center.

Hear what these applicants had to say…

Online laboratory results

This is a first for me—everything was accessible and easy to understand. I appreciate the clear explanation about what each result means, because it helped me better understand what each person needs to concentrate and work on in order to live longer. Thank you. Great job!!!!”

Exam experience

“The technician was excellent – friendly, explained everything, fit me into a very busy schedule, and was very efficient. Very well done!”

“I want to add that my practitioner, who conducted the exam, was delightful and professional. I really enjoyed my time with him, as he was personable, and he meticulously described the process. He was efficient and courteous. You just don’t find great service like this anymore, so I applaud your company for hiring seasoned professionals who know how to effectively get the job done, yet be a joy in the process.”

2017 Mystery Shopper Results

In addition to our post-exam survey for applicants, ExamOne utilizes a third-party mystery-shopper program to measure the applicant experience. In 2017, ExamOne scored 90% satisfaction on the interaction with the examiner. An overall satisfaction score of 90% was achieved from a compilation of scores and feedback on scheduling, examiner arrival and greeting, the exam itself, and examiner interaction.

These quality measures are used to help develop and enhance examiner training and workflows, allowing us to continually improve the applicant experience.

If you would like more information about these results, contact your Strategic Account Representative.

Why are insurers using Final Expense?

Drug2Today, there are more than 35 million Americans age 65 and older. That includes 10,000 Baby Boomers who turn 65 every day and this trend will continue for at least 15 more years.[i]  Additionally, there are 95 million Americans who do not have life insurance[ii], and approximately 36 million people who do not have any savings, retirement savings or investments.[iii]

So what happens when one of these individuals with no life insurance, no savings, and no retirement savings passes away and their family is left with the expenses incurred for a funeral? Many insurance carriers offer a Final Expense product to cover this growing segment of consumers.

Final Expense is a life insurance product that can be purchased to cover funeral and burial costs as well as bills and debt. They are issued as small face amounts and most are covered under simplified issue underwriting.

How ScriptCheck can assist you in your underwriting of Final Expense

According to the LIC/CSG Final Expense 2013 survey report, 46% of Final Expense products incorporate a prescription history check. When issuing a life insurance policy to someone over the age of 65, chances are they have a greater list of prescribed medications than a younger individual.

Through ScriptCheck®, you can build a more complete profile on your applicant.* We work with some of the largest pharmacy benefit management (PBM) companies in the country and have developed exclusive relationships that help capture a more comprehensive review of your applicant’s prescription drug history. We are the only provider that represents 85% of the PBM market share. Additionally, approximately 40% of maintenance medications are mail in orders which can only be pulled through a PBM.

Benefits:

  • Saves time allowing underwriters to make faster decisions
  • Flags concerning medication
  • Eliminates costly human mistakes
  • Translates large volume of data into actionable information for an underwriter

Additionally, through our vast data product offering, we can provide additional services that will help you build your applicant profile. We can complete a health history phone interviewprovide a real-time, scored motor vehicle report, and provide a QuestCheck® and MIB report.

While Final Expense products are smaller face amount policies, it is more important than ever to accurately assess risk and to ensure fair and appropriate mortality assumption. Contact Beth Millay at Beth.A.Millay@ExamOne.com today to learn more.

*ExamOne requires prior written consent from insurance applicants, which appears in the HIPAA-compliant authorization that is part of the insurance application. The authorization must be signed and dated prior to accessing the information.


[i] US Census Bureau

[ii] www.Lifehappens.org

[iii] Social Security Administration

Committed to helping our industry grow

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