Wealth management firm MLC and medical software provider Zedmed have formed a partnership that will result in improved turnaround times and lower costs associated with medical information requests for insurance companies.
Under the arrangement, Zedmed would be engaged in the retrieval of patient medical information using its Medical Record Exchange (MRE) service.
The service would allow MLC's underwriters to get clients' medical information within six to eight business days on average by using Zedmed's MRE, Zedmed client services manager Martin Hoel said.
"This is good for the applicant as the whole process is concluded quickly and it's therefore good for the adviser as their clients' are happy and the adviser is able to write the business faster," Hoel said.
MRE had significantly reduced the time and cost of collecting medical information from doctors and improved the quality of the information being received through their on-line process, MLC chief underwriter Stuart McCulloch said.
"This improves our customers' overall experience when purchasing our life insurance and is something that helps us stand out from the crowd."
