Life Insurance companies are all about underwriting risk and evaluating claims.

Historically, the most significant obstacle in the underwriting process has been obtaining reliable medical data because the ROI (Release of Information) process has been so cumbersome, costly and delay-ridden. Waiting a week or longer to obtain medical records has heretofore been the norm with significantly longer delays being far from unusual.

That was yesterday but now here comes tomorrow.

WoMBA has been building a highly secure and tightly regulated automated electronic medical data exchange platform over the last several years enabling the ROI process to be reduced from weeks to moments.

Life, Health, LTC, and DI companies in their New Business and Claims departments now have the ability with the applicant’s consent to access a proposed insured or claimant’s medical records virtually in real-time. The value of this solution is enormous with Home Office benefits ranging from significant cost reductions to increased client satisfaction to lower vendor payments, less aggravation and decreased internal HR costs to name a few.

Insurance companies will be able to receive medical records as data enabling true straight-through processing for a large percentage of their applications. All data may now be fed into Automated Underwriting Engines and scrubbed per each company’s or department’s guidelines.

With WoMBA it is possible to get a real-time view of the applicant or insured’s present health condition in addition to flat medical records which only provide a two-dimensional PMH (past medical history). The Underwriter is therefore equipped with the most comprehensive and up-to-date information available for risk analysis purposes.

WoMBA ties into many non-traditional sources of data including Pharmacy Databases to see not only what medications have been prescribed but also if the medication is actively being taken and when.

Wearable devices can be uploaded and shared to tell a far more compelling story capturing life in 3D and enabling an Underwriter to see monitor health information in real time. The world of Underwriting and Claims management has been changed by WoMBA. You’re gonna love this new world!

Historically the industry paid for medical records based on what each doctor, hospital, medical center or copy company charged. There was no way to accurately budget the cost in dollars or days. Vendors did a great job in reducing as much of those delays and obtaining current status but that too came with a price.

Goodbye Yesterday, Hello Tomorrow!

With flat-fee pricing options and same day transmission* there is no longer any guesswork regarding costs or staffing requirements. Data can be organized and arranged differently per department requirements eliminating the need for expensive sorting costs or summary services.

WOMBA has spent a small fortune and utilized some of the sharpest talents in our industry to turn the most cumbersome challenges of yesterday into a robust, comprehensive and customizable solution for tomorrow.

Getting started is simple, Click here to see Our Process.