Human API for life insurance helps companies approve your application faster than ever before!
What is Human API?
Human API (Application Programming Interface) is a technology company that provides consumers with an easy way to share their electronic health records (EHR).
If your health care provider offers a patient portal, Human API is used to share your patient information directly with the life insurance company.
The benefit to you is a faster life insurance underwriting process.
How does Human API work?
When your application is submitted to the term life insurance company, you will receive an email with a secure link to connect your patient portal.
Once connected, the life insurer will have access to your electronic health record to begin underwriting.
If you need to learn the entire application process, check out our Life Insurance for Dummies guide.
Compare that to the old way of obtaining medical records:
- You sign a HIPAA compliant authorization form
- That form is sent to your medical provider (2-4 days)
- The provider confirms that records are available (1 week)
- Medical provides bill the insurer for copies (1 week)
- The insurer pays for the records (2-4 days)
- The provider copies and sends your records (1-3 weeks)
- Records arrive and are uploaded to underwriting for review (1 week)
The longest part of the underwriting process is waiting for the above to take place as many times it will take 4-8 weeks for records to arrive.
With Human API, it’s possible that the life insurer receives your medical records immediately.
When medical records are requested, it typically takes a few weeks as described above.
For this recent case, underwriting requested medical records on Day 2 of underwriting.
Using Human API, records were received on Day, and the life insurance company made the underwriting decision on Day 6!
A recent example of how well this works is for a client of ours. We submitted the application and underwriting asked for medical records.
Using Human API, the life insurance company received the records the next day and made the underwriting decision 2 days later.
This is one of the biggest improvements to help accelerate life insurance underwriting.
Do I have to pay for Human API?
No, there is no cost to you as the consumer.
The life insurance companies pay all fees related to obtaining your medical records.
Do I have to use Human API?
No, there’s no obligation for you to use this service.
If you choose not to use this service, or if your provider doesn’t have a portal that connects with Human API, underwriting will still continue.
If the life insurer needs your records, they will send out the HIPAA form as previously described.
Keep in mind that this is a quick and secure way to obtain your records quickly and may save you weeks of underwriting time compared to the old way.
Is my health information secure?
Human API is a HIPAA-compliant service, meaning it meets or exceeds U.S. government standards for medical data security, akin to those employed by national banks.
You have complete control over your medical information and may revoke access to your account at any time.
Do All Life Insurance Companies Use Human API?
Not yet, but this is the direction that all competitive companies are moving towards.
With COVID-19, life insurers have improved their efforts to accelerate the underwriting process.
Eliminating paramedical exams and accelerating the medical records process are the main hurdles in life insurance underwriting.
Until now, there was no way to obtain records quickly and efficiently.
When will Human API Not Work?
The two scenarios we have encountered to date:
- The client doesn’t want to allow access to their electronic health records.
- The client’s physician does not offer an accessible patient portal.
Our explanation to clients is that underwriting is going to obtain all of your medical records as part of the process, and this is just a way to expedite and simplify it.
If a portal is not available to obtain records, underwriting will follow the old way as described above.
We think Human API for life insurance is a great addition to the underwriting process.
The bottom line is that it will improve your life insurance underwriting experience.