tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, February 23rd, 3:51PM

Insurance

rss
Latest Headlines

Medical insurance requests speed up

Fidelity Life says it is the first in New Zealand to increase insurance efficiencies by using Konnect SureMed, a new electronic service that radically speeds up medical insurance requests.

Friday, November 27th 2009, 9:30AM

by Jenha White

Fidelity Life chief executive Milton Jennings says the prospects are very exciting as the SureMed technology increases business quality, policy closure rates and improves customer satisfaction.

He says the quickest Fidelity Life has had a form back so far with SureMed has been in 51 minutes compared to the old process where some forms take on average three weeks to come through.

Konnect SureMed automates the process from the point where an insurer requests information from a health provider through to the delivery of information to the insurer and payment for that service. It significantly cuts the average time for process.

The SureMed technology has also been delivered as part of the most recent update to Medtech's Practice Management System which is used by around 80% of New Zealand practices.

Jenning's says Fidelity Life is in the early stages of using the technology, but the benefits are huge.

"SureMed will help our advisers assess the 3,500 policy requests they receive per annum much faster, while utilizing a staandardised approach to collecting medical information from GPs."

The SureMed process starts when information requests are made by the insurer through the Konnect website, using standard forms tailored to a particular insurers requirements.

Brokers and insurers are then able to track the progress with information requests at any point in the process.

Health providers receive the requests and collate the medical information using an electronic form.

SureMed then delivers encrypted information to the insurer for use with the underwriting policy to determine pricing, exclusions or to decline the application.

Automated payment is then made to the health provider for the information.

Fidelity Life says the process enhances business quality because insurer decisions are made on robust and comprehensive information.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

« Fidelity moves to renewal commission modelSell as much level term insurance as you can before tax changes »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Insurance Briefs

nib adds specialist skills to its board
Two new board appointments at health insurer nib add new perspectives, chairman says.

nib gets new CFO
Alvin Soh has joined nib New Zealand as its chief financial officer. Heh is a chartered accountant with more than 20 years of commercial experience in leadership roles.

AIA kicks off footie campaign
AIA NZ has launched a campaign, offering New Zealanders the opportunity to win a trip for two to see Tottenham Hotspur play in London.

AIA Vitality numbers
AIA says its Vitality programme now 50,000 members and they have recorded material health improvements, demonstrating the gains that can be made when we take charge of our wellbeing.

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News
Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com
x