New York Life has teamed up with health care technology firm Cerner to simplify electronic health record (EHR) retrieval.

The two parties have worked alongside to reduce friction in the life insurance application process for consumers and speed up underwriting decisions.

Cerner senior vice president of Strategic Growth Art Glasgow said: “We’re focused on helping life insurance companies return underwriting decisions quickly and accurately with near-real time digital record delivery from across the country.

“Our collaboration with New York Life helps create a faster, more efficient process that improves the experience for both life insurance applicants and insurers.”

Through the partnership, New York Life can securely access hospitals’ EHRs in near-real time.

Both the companies have refined the solution to serve consumers and insurance companies and also lower administrative burden on healthcare providers.

New York Life head of Strategic Capabilities Alex Cook said: “These efforts are an important part of New York Life’s ongoing drive to leverage digital health data to accelerate life insurance underwriting.

“With the support of these innovations, New York Life has reduced application processing time and streamlined the process for consumers to meet their life insurance coverage needs.

“Reducing friction in the life insurance application process has proven to be incredibly relevant in today’s virtual world and tremendously beneficial to consumers.”

New York Life provides life insurance, retirement income, investments as well as long-term care insurance through its family of companies.

The New York City-based firm is said to be the largest mutual life insurer in the US.

In December 2019, New York Life agreed to acquire health insurer Cigna’s group life and disability operations in a transaction valued at around $6.3bn.