USAA and Human API | August 17, 2022
USAA Life Insurance Company (USAA Life) announces the next step in the evolution of their life insurance offering by partnering with Human API, the leading health data platform. Pairing USAA Life’s rich experience with digital health data and Human API’s industry-leading technology will drive transformation in the life insurance buying process to create an unmatched member experience.
USAA Life will continue to expand the use of digital health data in the life insurance underwriting process through its implementation of Human API’s Health Intelligence Platform, including its vast patient portal network, HIPAA-authorized networks, and APS retrieval services, all powered by Human API’s smart order orchestration. The Human API platform connects to 30,000+ data sources in the US, including EHR networks, HIEs, provider networks and more, providing widespread digital health data access for over 13 million USAA members. Prioritizing digital health data will improve the USAA member experience and help members acquire important life insurance coverage faster and easier.
Human API’s proprietary data normalization engine expands the utility of digital health data, delivers deeper data insights, and unlocks exciting new opportunities through the development of this unique data asset. As USAA Life continues to drive towards the future of automated underwriting, the partnership with Human API will ensure that USAA will deliver the best experience to its members today and in the future.
“Human API’s platform further expands our ability to provide our members the best experience buying life insurance, We were the first company to use digital health data and are continually looking for ways to improve our processes—including increasing the percentage of medical records we can receive digitally, which cuts down on the time that it takes to get life insurance coverage.”
-Chris Flint, senior vice president and general manager, life insurance at USAA Life
We are thrilled to be working with USAA. Human API is excited to assist USAA in continuing to deliver the best in services and experience to their members and we look forward to helping USAA power the future of digital health data and underwriting automation, says Andrei Pop, CEO of Human API.
Founded in 1922 by a group of military officers, USAA is among the leading providers of insurance, banking, and investment and retirement solutions to more than 13 million members of the U.S. military, veterans who have honorably served and their families. Headquartered in San Antonio, USAA has offices in eight U.S. cities and three overseas locations and employs more than 38,000 people worldwide. Each year, the company contributes to national and local nonprofits in support of military families and communities where employees live and work.
About Human API
Human API’s Health Intelligence Platform connects and converts health data into actionable intelligence that accelerates underwriting, improves placement rates, and creates better customer experiences. The company’s platform is powered by a robust and comprehensive data network which includes access to electronic health records (EHR) networks, health information exchanges (HIEs), patient portals, and traditional APS retrieval partners. Coupled with smart evidence orchestration capabilities that optimize for the best data retrieval paths and a reporting engine that presents useful information to underwriters at the right time, Human API’s solution is helping leading carriers easily access and use health data to transform underwriting and customer experiences.
CORE INSURANCE,LIFE INSURANCE
Covr Financial Technologies | September 23, 2022
Covr Financial Technologies (Covr) is collaborating with Citi to help its U.S. financial advisors and clients more effectively integrate life insurance and long-term care coverage into their financial plans. By utilizing Covr's platform, Citi's advisors and clients can access top insurance carriers on a simplified basis.
"We couldn't be more thrilled to team up with a large, global financial institution like Citi, Our insurance platform is easily accessible for Citi's team of advisors to use when offering protection products to their clients, and our team of insurance experts provides support throughout the process. Our goal at Covr is to ensure that everyone has easy access to the insurance solutions they need, and this a huge step in working toward that goal."
-Michael Kalen, Covr CEO
Covr was able to work with Citi to integrate its complex requirements into one easy-to-use digital insurance platform, Making the complicated simple is what we do every day, and the ability to collaborate with a leading firm like Citi allowed us to take our technology to an even broader audience. This further positions Covr as a leading provider of digital insurance technology and services to financial institutions,said Ron Alexander, Covr President and Head of Innovation.
Looking ahead, Citi is exploring ways to expand the offering to additional channels in the future.
About Covr Financial Technologies
Covr partners with financial brands to provide life insurance solutions to their customers in an efficient, easy way that streamlines the process of selling and buying policies. Covr offers a choice of trusted life insurance products from leading insurance carriers, an easy way to compare rates, and the ability to purchase policies within minutes. Through its digital insurance solutions, Covr helps financial institutions deliver a great experience under the brand their customers already trust. Covr currently serves over 30,000 financial advisors and over 40 million customers across over 30 financial institutions.
Duck Creek Technologies and CogniSure | September 15, 2022
CogniSure Submission Ingestion API allows commercial insurance carriers quicker access to risk insights buried in submission emails and attachments such as Loss Runs and SOVs.
CogniSure AI, an Illinois-based corporation, has entered into partnership with market-leading insurance software provider Duck Creek Technologies, which allows insurance companies to exponentially gain underwriting efficiencies while enhancing their risk decision-making capabilities. CogniSure AI's algorithms extract data from complex submission documents such as applications, schedules, SOVs and loss runs into structured formats and further derive risk insights for underwriter consumption. Duck Creek customers can easily integrate CogniSure AI's Submission Ingestion APIs through its Marketplace.
With ever-increasing risk complexity and customer expectations, it's important that underwriters focus their time on risk assessment and nurturing relationships rather than manually extracting and aggregating data buried in PDF/Excel documents attached to submissions.
PropertyCasualty360 reported that commercial insurers receive roughly 100 million submissions each year; as such, underwriters are extremely selective as to which risks they are willing to work. A majority of the commercial submissions come in emails, and unstructured data is one of the biggest challenges to digitization of commercial underwriting operations.
"Unstructured Data ingestion is a big challenge for property and casualty (P&C) insurance carriers, and we are excited to have CogniSure AI join the Duck Creek solution partner ecosystem. CogniSure AI drives significant operational efficiencies and helps underwriters make better risk decisions by providing access to data that is buried in unstructured documents."
- Robert Fletcher, Head of Global Partnerships at Duck Creek
Sai Raman, Founder & CEO, CogniSure, said, We're really excited to roll out our submission intake solution for Duck Creek customers. We believe it's a tremendous opportunity to complement the Duck Creek platform and drive the automation of underwriting submission processes. We have invested significantly to pre-train our solution through large volumes of insurance documents such as loss runs and schedules to make it production ready and deliver best-in-class precision and responsiveness.
About Duck Creek Technologies
Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand.
The CogniSure AI platform provides actionable insights from unstructured data buried in insurance documents such as submissions, loss runs, policies, and schedules. Created by insurance professionals, CogniSure goes beyond data extraction and provides unrivaled insights to address the complexity of insurance document processing.