Pacific Life Selects Hooper Holmes as Key Service Provider for New Pacific PRIME Term Product [Professional Services Close – Up]

Hooper Holmes announced an agreement with Pacific Life Insurance Company to provide efficient data acquisition, processing, and underwriting solutions for its new Pacific PRIME Term product now being launched in the United States.

According to the company, working closely with the U.S. life reinsurance and automation solutions divisions of Munich Re, Hooper Holmes has developed a new technology-based solution for Pacific Life. This new platform utilizes many Hooper Holmes services including tele-interviewers, technology platforms, paramedical examiner network, laboratory testing capabilities, and risk selection expertise. Hooper Holmes has integrated these services with Munich Re's risk management and automated underwriting platforms to assist in faster application processing and review.

Regarding Pacific Life's collaboration with Hooper Holmes, Pam Askins, Assistant Vice President for Pacific Life's IT and Strategic Planning department in the Life Insurance Division, said: "Hooper Holmes has been a very committed and enthusiastic partner ensuring our vision for a simplified process was achieved. This initiative has been a key business objective and will help us achieve our long- term goals."

"Pacific Life is excited to see our new automated processing in action. The Munich Re Automation Solutions (MRAS) platform, integrated with the Hooper Holmes systems and services, streamlines the traditional underwriting process. All information is assessed systematically and, when necessary, key information can be delivered to an underwriter for further evaluation. Thanks to this innovative approach, we expect to achieve more consistent outcomes and overall process efficiencies, improve our ability to underwrite more applications per year, and serve our applicants more smoothly and effectively," added Marti Trevillian

"This new solution illustrates the strengths of Hooper Holmes' entire services portfolio and our ability and flexibility to innovatively to respond to the specific needs of our customers," said Henry E. Dubois, Hooper Holmes' President and Chief Executive Officer. "By leveraging our tele-interview services, national examiner network, laboratory capabilities, risk selection expertise and strong relationship with Munich Re, we created a solution that will help ensure the successful launch and ongoing quality delivery of Pacific Life's new product. We are proud to provide our services to Pacific Life Insurance Company and look forward to being able to play a part in the success of the Pacific Life PRIMESM product growth in the marketplace. This collaboration is also an exciting example of what we can offer our life insurance customers by combining and synchronizing our unmatched range of services."

Additionally, Dan L. Dodson Hooper Holmes' Senior Vice President of Life Insurance said, "This new endeavor also marks the beginning of a long-lasting collaboration with Munich Re. Their innovative and easy-to-use automated underwriting system and EDGE Underwriting manual removes many of the complexities of processing and underwriting life insurance, and it is key to this process. As Hooper Holmes continues to seek ways to bring innovation and process improvement to our life insurance customers, partnerships with organizations like Munich Re will be central to helping us accomplish this goal."

Hooper Holmes is a company focused on collecting personal health data and transforming it into useful information, enabling customers to take actions that manage or reduce their risks and expenses.

Pacific Life provides a range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.

More Information:

http://www.PacificLife.com

((Comments on this story may be sent to [email protected]))