As strides in mHealth continue to be made for the greater overall good of the U.S. healthcare system, the future of insurance underwriting has shifted. An integral component of the entire benefits infrastructure, underwriters are responsible for analyzing risk in order to assess whether or not insurance should be provided and if so, under what terms. Lauded for their ability to focus on internal processing and specific transactions, insurance underwriters are quickly having to adapt to modern advancements in order to create a better, more streamlined infrastructure for both the provider and consumer.
Consider the following ways underwriters can maintain relevancy in today’s connected world:
- Focus on customer type: In order to evaluate risk to the highest degree, insurance underwriters must focus on the type of customer they will be working with. This can be done in a number of ways, including researching data from real-time news feeds, social media and, more specifically, pharmacy claims. By researching modernized formularies through mHealth tactics such as applications, underwriters can better determine the risk associated with various customer types.
- Analyze proactively: Sophisticated risk profiling techniques are needed for underwriters to continue the advancements of healthcare overall. By investing in modern messaging services and platforms, underwriters can gain invaluable information about how consumers utilize healthcare now, allowing them to enhance member experience and reduce costs in the future.
- Promote mobile health: As mHealth advancements are made, insurance underwriters need to rally together in an effort to promote analysis on various platforms. The more investments that are made in mobile application software, the more consumers can share their experiences, creating a more accurate risk assessment. Underwriters can help these efforts by encouraging their companies to invest in new products that connect consumers with providers via the most used platforms, such as smartphones and tablets.
Insurance underwriters of the future will need to focus on market-facing relationships and sales in an effort to increase their involvement and better the healthcare industry as a whole. In order to do so, they will need to invest in advanced messaging and analytic software to create a more efficient research process – an area of expertise for the professionals at RxEOB. To find out more about the advanced offerings that can help the insurance underwriters in the shifting healthcare landscape, contact RxEOB today.
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