USAA Among First to Use Electronic Health Records to Accelerate Life Insurance Process
USAA Life Insurance Company (USAA) is one of the first U.S. life insurers to allow consumers to use electronic health records (EHR) to simplify the life insurance purchase process. On average, USAA has seen a 30-day reduction in time to acquire health records for participating members. The solution is currently available to applicants with patient portal access to their health records at the Department of Veterans Affairs, Department of Defense, or Kaiser-Permanente.
“We can’t emphasize enough how important life insurance is to a financial plan, but we also understand that the process of obtaining a policy continues to introduce challenges industrywide,” says Dr. Steven Dunlap, medical director at USAA. “By using portal retrieval technology and existing EHR platforms, we can provide our members a more secure, easy way to supply records to get a policy decision as soon as possible.”
USAA worked with Cerner, a health care technology company, to test and implement the EHR retrieval technology named HealtheHistory. This solution is designed to reduce wait times and improve the overall experience for members who need health records to complete the life insurance purchase process.
“Our members are our utmost priority,” says Bill White, vice president of Integrated Solutions. “At USAA, we are continuously seeking innovative financial solutions to better serve our members and help protect them faster. If a solution to an issue doesn’t exist, our mindset is to go out and find one.”
Traditionally, when applicants require health records to support their life insurance application, the process depends upon a medical provider manually sending out the records. This new EHR retrieval method allows for a much quicker and more secure exchange of health records by encrypting transmission and limiting access of electronic health records to only approved persons.
USAA data shows that one in three Americans do not carry life insurance, with many citing cost and the application process as obstacles to obtaining a policy. By utilizing EHR technology, USAA is able to expedite the application and underwriting process, without increasing cost for members. USAA seeks to be the provider of choice for the military community and is committed to finding solutions to help service members prepare for their future.
For more information regarding USAA life insurance, please visit USAA.com/life.
The USAA family of companies provides insurance, banking, investments, retirement products and advice to 12 million current and former members of the U.S. military and their families. Known for its legendary commitment to its members, USAA is consistently recognized for outstanding service, employee well-being and financial strength. USAA membership is open to all who are serving our nation in the U.S. military or have received a discharge type of Honorable – and their eligible family members. Founded in 1922, USAA is headquartered in San Antonio. For more information about USAA, follow us on Facebook or Twitter (@USAA), or visit usaa.com.
Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX, and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations, and contractual terms and conditions. Each company has sole financial responsibility for its own products.