Pre-Grant Publication Number: 20090055227
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Prior Art Detail
Summary / Description
| Summary / Description | Crump Life Insurance Services, a leading wholesale distributor of insurance products in the United States, has launched Risk Righter(TM), a new service that supplies summarization and electronic delivery of life insurance policy application medical files and associated documents to support the new business process. |
Basic Information
| Type of Prior Art | Print Publication |
| Publication Title * | Crump Launches Policy Application Summarization and Underwriting Services Through New Risk |
| Author | Business Wire/Reuters |
| ISBN | |
| Page Range | |
| Medium | Newspaper article |
| Publication Date * | October 28, 2008 |
| URL | http://www.reuters.com/article/... |
Notes / To Do
| Notes | |
Excerpt
Excerpt "One of the most pressing issues for life insurance carriers, and
the industry, today is the growing number of lengthy informal
applications with large medical files and low placement rates," said
Brian Winikoff, president of Crump Life Insurance Services. "To
address this, we successfully created a process to efficiently
summarize medical files, enabling carriers to make offers much more
quickly and cost-effectively."
Risk Righter, a new business unit within Crump's independent
subsidiary, AgencyWorks, was created to offer these underwriting
summarization and technology services to carriers, as well as to
general agencies.
The Risk Righter summarization process was designed by
underwriters with the needs of underwriters in mind, and is fully
compliant with HIPAA regulations, leveraging advantages in process,
technology and trained medical professionals. Explained Mike McCarty,
Risk Righter vice president, "This process is an efficient and proven
method within the life insurance industry, and has significantly
reduced paper submissions to carriers. Initial carrier client
experience has validated a 99% file review accuracy rate." |
Relevance
Claims
1
Relevance
Risk Righter, a new business unit within Crump's independent
subsidiary, AgencyWorks, was created to offer these underwriting
summarization and technology services to carriers, as well as to
general agencies.
Risk Righter, a new business unit within Crump's independent
subsidiary, AgencyWorks, was created to offer these underwriting
summarization and technology services to carriers, as well as to
general agencies.
Claim Chart
Some
2
Relevance
"One of the most pressing issues for life insurance carriers, and
the industry, today is the growing number of lengthy informal
applications with large medical files and low placement rates," said
Brian Winikoff, president of Crump Life Insurance Services. "To
address this, we successfully created a process to efficiently
summarize medical files, enabling carriers to make offers much more
quickly and cost-effectively."
"One of the most pressing issues for life insurance carriers, and
the industry, today is the growing number of lengthy informal
applications with large medical files and low placement rates," said
Brian Winikoff, president of Crump Life Insurance Services. "To
address this, we successfully created a process to efficiently
summarize medical files, enabling carriers to make offers much more
quickly and cost-effectively."
Claim Chart
Some
3
Relevance
No obvious reference to developing a subscriber profile using a database.
No obvious reference to developing a subscriber profile using a database.
Claim Chart
None
4
Relevance
"One of the most pressing issues for life insurance carriers, and
the industry, today is the growing number of lengthy informal
applications with large medical files and low placement rates," said
Brian Winikoff, president of Crump Life Insurance Services. "To
address this, we successfully created a process to efficiently
summarize medical files, enabling carriers to make offers much more
quickly and cost-effectively."
"One of the most pressing issues for life insurance carriers, and
the industry, today is the growing number of lengthy informal
applications with large medical files and low placement rates," said
Brian Winikoff, president of Crump Life Insurance Services. "To
address this, we successfully created a process to efficiently
summarize medical files, enabling carriers to make offers much more
quickly and cost-effectively."
Claim Chart
Some
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