With the partnership, Libra enables its agencies to share the digital medical data directly to expedite the underwriting process
Libra Insurance joins hands with Human API. (Credit: Pixabay/vjohns1580.)
Libra Insurance Partners (Libra), an insurance marketing organization, has formed a partnership with Human API, a California-based health data platform provider, to simplify the process of buying life insurance.
Under the partnership, Human API will help Libra by providing consumers with a quick and easy way to share access to their electronic health records (EHR). The utilization of EHR data has accelerated in the wake of COVID-19 pandemic crisis.
With a disruption to traditional underwriting requirements such as paramedical exams and attending physician statements, the insurance industry is now using alternative data sources such as EHR data to find new ways to respond to the crisis.
Human API’s consumer-controlled health data platform is claimed to be transparent and trustworthy across the insurance buying journey and offers customers a way to instantly share their medical records.
Human API CEO Andrei Pop said: “We’re in a unique position to help the insurance industry adapt to our new normal. It’s a privilege and responsibility that we don’t take lightly. We’re very excited to be working with a partner like LIBRA that has its sights set on the future.
“This is a perfect opportunity to advance the industry’s digital transformation with collective action, which aligns with our company mission to accelerate the pace of innovation for consumers leveraging their own health data.”
Agencies can now share customers’ digital medical data directly with carriers
Through the partnership, Libra aims to offer agencies fully digital authorization experience under which the agencies can share the digital medical data directly with carriers to expedite the underwriting process.
It remove the need to interact with healthcare providers or in-person nurse visits and can be done in the comfort of a client’s home. The process can also replace required labs and paramedical examinations.
Libra Insurance Partners Senior Vice President Kelli Grass said: “Too many Americans have little or no life insurance in place. We know that life insurance provides peace of mind and is fundamental to good financial planning. However, many consumers find the buying process rather daunting. We need to make it easier if we are going to close the protection gap.
“Human API helps our partner agencies deliver a streamlined experience. Now more than ever, it’s critical that they can deliver a fast, no-touch and digital option to help consumers secure the protection they need.
“Our agencies are essential resources, making sure advisors have the right solutions for their clients. It’s important that they also have the tools they need to expedite the underwriting process as much as possible for their clients.”