The CII and SAMI Consulting are launching a new research project to explore how the digitalisation of medical records can improve access to protection.
As more medical records are digitalised and health data is collected on apps and wearable tech and voluntarily offered to health service providers, there is a wealth of underwriting data available to insurers. This new research project will explore how this can be used for the benefit of the customer to provide greater access to insurance and protection products.
In particular, customers with pre-existing conditions may benefit from faster application and claims processes, as it becomes easier for insurers to establish the facts, without having to wait for medical records. Currently, the claims process can vary from days to weeks and this can be largely due to establishing medical information.
The CII and SAMI Consulting are consulting with a wide range of stakeholders across the medical profession, insurance sector and consumer groups to collect evidence for a report, which will be published later in the year. The report will lay the foundation for secure, ethical sharing of digital data to benefit consumers.
The project is also being supported by a working group of experts from AIG, iPipeline, Legal and General, Munich Re, Norton Rose Fulbright, Royal London, The Exeter and Zurich Life UK.