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Manulife Financial Corp
Symbol MFC
Shares Issued 1,948,811,715
Close 2020-01-14 C$ 27.49
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Manulife's John Hancock working on EHR sharing tech

2020-01-14 11:12 ET - News Release

An anonymous director reports

JOHN HANCOCK AND HUMAN API JOIN FORCES TO TRANSFORM THE LIFE INSURANCE PURCHASE PROCESS

Today, Manulife Financial Corp.'s John Hancock has made a major step forward in significantly streamlining the life insurance buying experience through a strategic collaboration with Human API, a leading health data platform, offering a simple, digital way for consumers to share access to their electronic health records (EHR) in real time.

Human API's capabilities allow for EHR data collection from over 85 per cent of United States health care providers (for example, health systems, hospitals, clinics and physician offices). With the instant access to critical medical information such as lab results, medications, vital measurements and conditions this collaboration enables, John Hancock can further its efforts to build a simple and convenient buying experience that exceeds the expectations of today's consumers and puts them in control of their personal information.

Human API will help John Hancock improve the speed, efficiency and ease of purchasing life insurance by enabling customers to share their current and historical medical information by a digital, HIPPA-compliant (Health Insurance Portability and Accountability Act) authorization process. John Hancock will in turn shift toward a more personalized review process for each of its applicants.

"We recognize some prospective customers are deterred by the time and effort involved in the traditional life insurance purchase process. Radically simplifying that process and reducing the time from application to issue is a top priority for John Hancock," said Brooks Tingle, president and chief executive officer of John Hancock Insurance. "We are reinventing the life insurance buying process and working in lockstep with like-minded distribution partners and innovative technology companies to make it happen."

"By joining forces with Human API, we can embed a simple digital authorization into our new, electronic application process, enabling customers to share their medical information instantly," added Susan Ghalili, vice-president of underwriting transformation and chief underwriter of John Hancock Insurance. "This is the level of service today's consumers demand and we are excited to provide it, improving the overall experience for consumers, distributors and producers."

This advance is possible because of Human API's ability to harness the power of EHR in a way that simultaneously makes it easier for the customer to share his/her information while knowing their personal data is being transmitted securely.

"Consumers today have higher expectations for how they purchase goods and services," said Andrei Pop, CEO at Human API. "Human API data allows insurers to reimagine the customer experience and holds the potential to transform the industry. We're thrilled to be working with a bold carrier like John Hancock that is pushing innovation ahead in an industry that has not been keeping up with consumers' expectations."

About Manulife Financial Corp.

John Hancock is a unit of Manulife, a leading international financial services group that helps people make their decisions easier and lives better. It operates primarily as John Hancock in the U.S. and Manulife globally, including in Canada, Asia and Europe.

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