1. INNOVATION IN LIFE INSURANCE
USING TECHNOLOGY & VITALITY TO MAKE INSURANCE EASIER, FASTER & STREAMLINED
Meredith Elliott, CLU, CLTC
Term & Eservices Director
John Hancock Insurance
Vitality is the provider of the John Hancock Vitality Program in connection with policies issued by John Hancock. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY
MLINY

2. Innovation: Changing the Insurance Marketplace
Highlights for Discussion
Drop Ticket Solutions: Shortened and Streamlined Submission Tools for Permanent and Term Insurance
Eticket
Paper Ticket
Express Track: Shortened Underwriting on fully underwritten products for eligible clients (based on health history)
Marketing Materials for Producer
Meredith take 1 & 2

3. Innovation: Barriers to Buying & Selling Life Insurance
It’s too invasive
It takes too long
There is nothing in it for the client today; it’s too morbid
Erin

4. Innovation: We have a Real Opportunity
U.S. households life insurance coverage gap1
30% of Americans say they need more life insurance
25% wish their spouse or partner would purchase more insurance
Given the loss of a primary wage earner, over 40% of households:
Would feel a significant financial impact within 6 months
Includes nearly 40% of households with income over $100,0002
Clients are busy and want help through the process
The life insurance process is viewed as cumbersome and invasive
Over 50% of clients want to buy insurance from advisors vs. online3
75% of consumers said “yes” or “maybe” to buying life insurance from their financial advisor if they were just asked4
Misperception of cost
80% of consumers misjudge the price for Term life insurance5
erin
1. LIMRA Fact Sheet, Life Insurance Awareness Month 2015
Insurance Barometer Study, Life Happens and LIMRA,
3. To Buy or Not to Buy Life Insurance – Buyer and Nonbuyer Differences, LIMRA Study 2012
4. Banks Offer Life Insurance – Who Knew? LIMRA Study
Insurance Barometer Study, Life Happens and LIMRA,

5. Innovation: What’s the Challenge? Making it Easier
Application is transmitted to JH – paramedical appointment is scheduled
APP
Third-party information (e.g., prescription and motor vehicle check) ordered
AMY, 56 yrs. old
BILL, 40 yrs. old
Underwriter reviews
40-50 Days
Amy and Bill complete the medical exam medical history, blood, and urine tests
Lab tests and applicable reviews
TEST RESULTS
Meredith
Final decision
PROCESS IS
Long
Invasive
Same for everyone

6. Innovation: What’s the Solution? Drop Ticket
Two new ways to make it easier to apply for life insurance:
JH Life eTicket for single-life term products
JH Life Paper Ticket for single-life term & permanent products
Both Ticket processes are available for all ages and face amounts
Meredith

7. Innovation: Option 1, JH Life E-Ticket
SUBMIT
TELE-INTERVIEW
QUOTE
Producer clicks on JH Life eTicket link from GA site
Producer runs a quote (Term and Term with Vitality)
JH representative calls client to complete application within 24 hours A paramedical visit (fluid and vital assessment only) will be automatically scheduled for ages 61+ and/or face amounts greater than $1M
Client eSigns the completed application
Producer submits eTicket
GA is notified/approves
Ticket is tracked via existing case status tools
Erin Slide – also will demo producer user guide handout

8. E-Ticket: Starting the Process

9. E Ticket: Client Details Page

10. E-Ticket: Policy Information

11. E-Ticket: Agent Information

12. E-Ticket: Submission Page

13. Preparing for your Telephone Interview

14. Innovation: Option 2, JH Life Paper Ticket
SUBMIT
TELE-INTERVIEW
QUOTE
JH representative calls client to complete application within 24 hours A paramedical visit (fluid and vital assessment only) will be automatically scheduled for ages 61+ and/or face amounts greater than $1M
Client eSigns the completed application
Producer/GA accesses JH Life Drop Ticket via forms vendor (i.e, iPipeline’s Forms Manager, JH SalesNet, etc.)
Producer/GA runs a quote (term or perm)
Producer submits ticket and signed HIPAA and Authorization to Obtain Information forms to GA
GA submits to John Hancock
Ticket is tracked via existing case status tools
Meredith

15. Innovation: Option 2, JH Life Paper Ticket
New “Paper Ticket package” available via JH SalesNet, JH Illustrator, and through the forms vendors we support (e.g., iPipeline Forms Manager, etc.)
Two-page form that asks for basic information, including:
Owner/insured/beneficiary details
Product selection/Replacement information
Purpose of insurance
Ticket package will also contain additional forms that are necessary to initiate the app
A consumer tip sheet to help prepare the insured for the Telephone Interview is available
Meredith

16. Innovation: ExpressTrack Through E-Ticket & Paper Ticket
Highlights
Changing Process, not Product
Simplified underwriting through the ExpressTrack process (as little as 3 days)
Eligible cases include those for clients ages 18-60, and face amounts up to $1 million
Permanent & Term products are eligible – providing a solution to streamline underwriting for your permanent case needs!
Shortened paperwork – PaperTicket for permanent insurance as little as 3 pages
LTC Rider is available via this process!
Erin - Eticket, PaperTicket, and ExpressTrack

17. Who will most likely receive an ExpressTrack experience?
Apart from the basic face and age parameters, applicants most likely to receive an ExpressTrack experience are those that:
Do not have serious medical impairments or histories
Do not participate in hazardous sports or occupations
Do not have complex financials, or criminal histories 
EXAMPLES OF MEDICAL IMPAIRMENTS
REQUIRING FULL MEDICAL REQUIREMENTS*
EXAMPLES OF NON-MEDICAL IMPAIRMENTS REQUIRING FULL UNDERWRITING REQUIREMENTS*
Diabetes/gestational diabetes
Cancer history (other than basal and squamouscell skin cancers)
Stroke/TIA
Lupus/autoimmune disorders
COPD/emphysema
CAD
Moderate/severe ulcerative colitis
Fatty liver
Heart murmurs, valvular disease
Hepatitis
Rheumatoid arthritis
Aviation & hazardous sports (resort diving is eligible)
Professional athletes & entertainers
Hazardous occupations
History of DUI or bankruptcy
Criminal histories
Premium financing
Increasing riders
Prior submissions, including trial or formal applications, received in the past 12 months
Previously rated or declined
Histories of substance abuse
Complex ownerships such as charities or “to-be- established” Trusts
*These examples are illustrative and not exhaustive. John Hancock reserves the right to require additional underwriting requirements in connection with any application for insurance.

18. Innovation: Express Track Potential Outcomes
Following telephone interview, underwriting path is determined based on age, face amount and health and lifestyle profile
Underwriting makes offer in as little as 3 days, no additional medical requirements needed*
ExpressTrack
Paramedical appointment (blood and vitals only) and other applicable underwriting requirements will be ordered
Traditional
Underwriting
Erin
* John Hancock will be requesting a post-issue attending physician statement (APS) for every issued ExpressTrack case. A policy may be rescinded if information in the APS reveals a material misrepresentation in the application submitted.

19. Amy is offered Preferred in 3-5 days!
Let’s Look at Some Examples: Amy, Non Smoker, Age 56, Florist, Applying for $1M UL
Policy owner – business partner; purpose of insurance: Key Person
Insured Build 5’9 185 lbs; BP 117/75
Family history – father alive, good health at 74; mother alive, good health at 73
Medical history: depression treatment – Zoloft ongoing since MIB /MVR is clear
APP
Ticket Submitted
Telephone Interview
Application and third-party data is processed/reviewed
AMY, 56 yrs.
Meredith
Amy is eligible for ExpressTrack
3-5 Days*
Amy is offered Preferred in 3-5 days!
Underwriting decision
*Elapsed time to generate underwriting decision from the time we receive the interview results

20. Let’s Look at Some Examples: Bill, Non-Smoker, Age 40, Accountant, Applying for $350,000 VUL
Build: 5’5 149 lbs; BP: 100/67, cholesterol unknown
Family history: father living, age 61; mother living, age 70
Medical history: asthma; albuterol prn; physical June 2016, normal
Rx search: albuterol intermittently, Prednisone 50mg, last refill March 2016 (ER medicine)
MIB/MVR are clear
Reflexive questions on telephone indicate recurrent symptoms
Ticket Submitted
Telephone Interview
Application and third-party data is processed /reviewed
BILL, 40 yrs.
Meredith
JH will schedule the paramed and communicate any additional requirements to insurance representative (ex., APS etc)
JH determines Bill needs additional requirements
30 Days*
Underwriting decision
is transmitted
Bill is offered Table 2
*Elapsed time to generate underwriting decision from the time we receive the interview results

21. Innovation: How to Submit Business Summary
Available only for Term and Term with Vitality*
Available for all products*
Available for all products
All ages and face amounts
All ages and face amounts
All ages and face amounts
JH LIFE eTICKET
JH LIFE PAPER TICKET
FULL APPLICATION
Traditional underwriting only
Eligible for ExpressTrack
Eligible for ExpressTrack
Meredith
*Not available for SmartProtect Term with Vitality, Simplified Life with Vitality, or survivorship policies. Producers/firms should continue to use the current submissions methods for these products

22. Thank You
Thank you for the time – feel free to call me if you have questions!
Contact Information
Meredith Elliott, CLU, CLTC
John Hancock Insurance
Cell: (980)
Meredith