The key question, she says, is whether it would elicit more honest information than consumers might otherwise divulge. "It would be more helpful if doctors used the technology as well," Ardleigh adds. "This would make it impossible for a client to avoid disclosing a visit to a doctor that yielded less-than-favorable results. Underwriters already have access to applicants' prior insurance applications, their medical records and their prescription history. However, if a person is willing to hide a doctor's visit from the insurer, the underwriters could miss something substantial."
For those concerned about invasions of privacy, Ardleigh says don't worry. She sees little chance of doctors or insurers adopting this technology anytime soon. "These are organizations that are still sharing handwritten notes by fax machine," she says.
Rodgers, though, contends that the decision of whether to try this or any other new technology may ultimately come down to dollars and cents. "Depending on the cost of the technology, there could be a significant cost savings for the insurance companies as well as a significant reduction in cycle times for underwriting," he says.
If that's the case, the industry could indeed see a major shift. "All things considered, the companies would definitely receive more benefit from [this technology] than the consumer," Rodgers concludes.