BOSTON, April 27, 2015 /PRNewswire/ -- John Hancock Insurance today announced a strategic relationship with Synodex, a division of Innodata Inc. (NASDAQ: INOD). This partnership represents one of the many technology investments John Hancock has made to maintain its industry-leading and progressive underwriting approach.
Synodex services are used by insurance carriers and reinsurance companies in connection with life insurance risk assessment. John Hancock Insurance will license a customized version of Synodex's proprietary software and take advantage of their services to streamline its internal business processes.
"John Hancock's progressive underwriting capabilities partnered with Synodex's cutting-edge technology will further enhance our ability to deliver timely and competitive underwriting offers to our customers," said Susan Ghalili Vice President and Chief Underwriter, John Hancock. "We are confident that a combination of Synodex services together with the licensing of Synodex's technology will allow us to not only review medical records more quickly, but also enhance the quality of our review process," Ghalili concluded.
John Hancock Insurance anticipates that the Synodex solution can offer many benefits beyond the underwriting process, helping the company keep pace with today's rapid advancements in technology.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management by Manulife and its subsidiaries were C$691 billion (US$596 billion) as at December 31, 2014. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
Synodex, a subsidiary of Innodata (NASDAQ: INOD), transforms medical records into computer-addressable digital data and customizable reports. This enables insurance companies to drive efficiency and cycle-time reductions in risk assessment and claim investigation while maintaining the highest levels of quality. Synodex also provides related platforms and services. For more information, contact Synodex at +1.201.371.8090.
Forward Looking Statement
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "project," "head start," "believe," "expect," "should," "anticipate," "indicate," "point to," "forecast," "likely" and other similar expressions generally identify forward-looking statements, which speak only as of their dates.
These forward-looking statements are based largely on our current expectations and are subject to a number of risks and uncertainties, including without limitation, that contracts may be terminated by clients; projected or committed volumes of work may not materialize; our Innodata Advanced Data Solutions segment is a venture formed in 2011 with minimal revenue that has incurred losses since inception and has recorded impairment charges for all of its fixed assets; the primarily at-will nature of contracts with our Content Services clients and the ability of these clients to reduce, delay or cancel projects; continuing Content Services segment revenue concentration in a limited number of clients; continuing Content Services segment reliance on project-based work; inability to replace projects that are completed, canceled or reduced; difficulty in integrating and deriving synergies from acquisitions, joint venture and strategic investments; potential undiscovered liabilities of companies that we may acquire; depressed market conditions; changes in external market factors; the ability and willingness of our clients and prospective clients to execute business plans which give rise to requirements for our services; changes in our business or growth strategy; the emergence of new or growing competitors; various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission.
We undertake no obligation to update or review any guidance or changes in the status of customer contracts, client relationships, or other forward-looking information, whether as a result of new information, future developments or otherwise. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this release will occur.
Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02117 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.MLINY040215005
SOURCE John Hancock Life Insurance