John Hancock Insurance announced a strategic relationship with Synodex, a division of Innodata. 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.
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the US.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the US.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.