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“The issuance simplified proves that the industry is refocusing on the customer” – Stéphane Rochon, president and CEO of Humania


Alain Thériault

September 24, 2018 07:00

Stéphane Rochon | Photo : Réjean Meloche

President and ceo of Humania Assurance, Stéphane Rochon believes that the products simplified complete pricing reflect a shift that the industry has begun to focus its approach on the client.

In such an approach, he said, the insurer must ask that the questions that relate to his condition, not one issue after the other. This is what the automated product HuGO can do, ” he said. “Artificial intelligence and our real-time access to the data base Group MIB allow the counsel to ask only relevant questions to the client, instead of asking and going through the motions all the questions in the proposal, one after the other. “

Access to this database centralizes the medical data collected on the insured by the insurers in north america. It allows the on-line questionnaire of the insurer to eliminate the unnecessary questions, as and to the extent that the adviser in responses between the client on his screen.

Ease the process

The CEO of Humania believes that this approach will evolve in the industry. Soon, insurers will be able to connect to other databases, he predicts. The cross searches that will become possible will ease the process.

“In order for the automated product to have success and remain competitive, it must find means to measure the risk in a way that is not intrusive. We will need access to external databases and interpreting their data in real time, ” he said. Although little is currently available in Canada, the access to new external databases in real time will transform completely the selection of risks. It will simplify significantly, as well as the required information directly from the client. “

Humania expects to be able to connect to the database of the Régie de l’assurance maladie du Québec (RAMQ), when this will become possible, ” noted Mr. Rochon. The insurer may then access the medical records of a client’s consent. This one can open his account Book, health Quebec, with the RAMQ to obtain her medical history from a specific date.

Mr. Rochon states that Book health Quebec, is a pilot project. However, he did not see why access would not be available within 24 to 36 months.

“With the technology in HuGO, we could customize the questionnaire in real time according to medical visits or medication record. We already do this with the MIB and we are looking for other connections to external databases, but the sources available are few in number for the time being in Canada. “

Among the opportunities for insurers, Stéphane Rochon report, for example, that connect to data banks on the ratings of companies credit and other on the purchasing behavior stored by sites such as Amazon. Mr. Rochon also evokes the existence of an aggregator of data on prescription medicines in the United States, offered by the provider of big data LexisNexis Risk Solutions.

Simplify the product and stay competitive

“If we met the data of the three banks of external data different, we may be able to give a price insurance on-the-field to the consumer. See even a lower price, ” said Mr. Rochon. This would further simplify the product, while remaining competitive at the price level. “

An automated product such as HuGO already allows the insurer to treat the eight records out of ten without human intervention, ” said Mr. Rochon. “I save $ 100 for each of these eight times. This is one of the differences between the products of simplified for hard-to-insure and the products pricing automated. In a product for the simplified basis, the less I ask questions, the more my price goes up, because I take a greater risk. “


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