Under the agreement, Hooper Holmes will provide efficient data acquisition, processing, and underwriting solutions for Pacific Life’s new product.
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Hooper Holmes has developed a new, end-to-end, technology-based solution for Pacific Life by working closely with the US life reinsurance and automation solutions divisions of Munich Re.
The new platform will utilize many Hooper Holmes services including tele-interviewers, technology platforms, paramedical examiner network, laboratory testing capabilities, and risk selection expertise.
Hooper Holmes has integrated these services with Munich Re’s risk management and automated underwriting platforms to assist in faster application processing and review.
Marti Trevillian, director for underwriter training and research in the life insurance division, said: "The Munich Re Automation Solutions (MRAS) platform, integrated with the Hooper Holmes systems and services, streamlines the traditional underwriting process.
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By GlobalData"All information is assessed systematically and, when necessary, key information can be delivered to an underwriter for further evaluation. We expect to achieve more consistent outcomes and overall process efficiencies, improve our ability to underwrite more applications per year, and serve our applicants more smoothly and effectively."
Hooper Holmes president and CEO, Henry Dubois, said: "This new solution illustrates the strengths of Hooper Holmes’ entire services portfolio and our ability and flexibility to innovatively to respond to the specific needs of our customers."
