PAOLI, Pa., Feb. 11, 2020 /PRNewswire/ -- Today, AIMCOR Group, LLC announced a strategic partnership with Human API, the largest consumer-controlled health data platform, to create a faster life insurance buying experience for agents and their clients by giving applicants a simple and digital way to share access to their electronic health records (EHR).
AIMCOR Group, LLC is a National Insurance Marketing Organization with a relentless desire to win and a vision of introducing excitement to our industry while making a difference in the lives of our member agencies, advisors and consumers. Human API is a Silicon Valley-based health technology company that works with stakeholders across the entire insurance ecosystem, including both carriers and their distribution partners. The Human API platform allows insurance applicants to connect and share medical data from over 90 percent of US healthcare providers (health systems, hospitals, clinics and physician offices). With instant access to medical information such as lab results, medications, vital measurements and conditions, AIMCOR and its member firms can optimize the life insurance distribution process and deliver an experience that meets modern consumer expectations.
Many Americans remain uninsured or lack sufficient life insurance coverage to meet their needs, and antiquated, lengthy, and often intrusive underwriting processes involved in buying life insurance are big contributing factors to this coverage gap. "We recognize that a large part of our industry's growth will depend on creating a better experience for the consumer," says Marc Verbos, Executive Vice President at AIMCOR Group. "As a trusted innovation partner to carriers and agencies, we're continuously looking for ways to optimize processes, create differentiation for our member firms, and leverage technology that can enhance the consumer buying experience. We see the Human API platform as a natural step in reducing dependency on time-intensive requirements such as attending physician statements and in-person medical exams. We're very excited to offer this new competitive advantage to all our firms in an effort to move the industry forward."
Through this partnership, AIMCOR Group aims to streamline the process for both formal and informal applications to carriers. By having access to electronic health records in minutes, firms can quickly determine the best product fit for a client. In addition, firms can also share this rich medical data directly with carriers so it can be used to expedite the underwriting process on formal applications.
With structured EHR data from Human API, carriers can make faster underwriting decisions by creating new risk modeling solutions and automated rules engines that can analyze the structured data they receive, improving the throughput of accelerated underwriting programs. The industry is moving toward a future where carriers no longer have to manually review scanned medical documents, but instead can rely on technology and automation to identify risk and issue policies.
"Structured EHR data has massive potential to accelerate innovation and drive the insurance industry forward," said Christian Wieland, Senior VP of Growth at Human API. "Our consumer-controlled health data platform allows AIMCOR firms to digitally collect the medical data they need and seamlessly send it to carriers. We believe this data will make it easier for carriers to figure out the best products for each consumer, and drive new business opportunities across the entire industry. We're glad to be working with a forward-looking NMO such as AIMCOR that is helping to spearhead digital transformation. This is the beginning of a worthwhile journey to leverage EHR data to help more Americans get the coverage they need, so they can protect their families."
About AIMCOR Group
AIMCOR Group, LLC, is a National Insurance Marketing Organization that distributes and services life, disability, LTC and annuity products through a variety of channels and platforms. Since its inception in 2011, and in conjunction with its internal and external partners, AIMCOR has embarked on a shared vision of industry business transformation by enabling new distribution, engaging consumers and delivering financial security to American families across all ages, income levels and cultural backgrounds.
About Human API
Human API is on a mission to radically accelerate the pace of health innovation by giving consumers the easiest way to connect and share health data - no matter where or how it was stored. The company has built the first consumer-controlled health data platform that connects, normalizes, and structures data from 90% of acute care and critical access hospitals, along with pharmacies, labs, and 300+ wearable devices and fitness apps. Human API empowers insurance, corporate wellness, health plans, digital therapeutics and clinical research organizations to build and deliver consumer-centric apps and services with electronic health records (EHR) and personal device data from everywhere. For additional information, visit https://www.humanapi.co
SOURCE AIMCOR Group, LLC