How Insurtech is Revolutionizing the LTC Claims Process
"Information is liberating." - Kofi Annan
Welcome to The Insurance Experts, your weekly spot for planning stories and strategies that matter to you and your clients.
- Click Subscribe above to be notified of each free edition
- Message me if you'd like to be interviewed for a future Newsletter
- Visit www.buddyins.com to help your clients with insurance planning
"Not even in my wildest dreams would I have been here." - Char Hu, Ph.D
Our guest today on The Insurance Experts is Insurtech CEO, Char Hu. Char began his career as a Ph.D and Research Scientist. Then, a personal experience with his grandmother's dementia led him to start his own dementia facility and home health care agency businesses. He soon realized that technology could be a game-changer when it came to helping clients, agents, and insurance companies navigate the long term care insurance claims process.
Char's Insurtech company The Helper Bees, builds software to enhance the LTCi claims process from claims intake and eligibility, to matching with care providers, to ongoing tracking of the care as it is being provided.
Listen to Char's story about a client who was worried about paying too much for home health care services and was able to use The Helper Bees to find a better provider to meet her needs.
Want to Learn More - Visit BuddyIns
BuddyIns is a community of client-centric long term care insurance specialists. We are dedicated to helping financial professionals and their clients across the country with customized LTC planning solutions.
Regional Vice President/Executive Partner at Medicareinc.com - President and CEO Bader Consultants
5 年Listen and Learn
Regional Vice President/Executive Partner at Medicareinc.com - President and CEO Bader Consultants
5 年Brilliant
Principal @ Lavine LTC Benefits | CLTC Certified
5 年If you own insurance, most people own insurance. When a claim happens, we all have a story with claims processing.? Owning an LTC Benefit is about activities of daily living for the benefit to activate.? It is beneficial to collaborate with a care agency that has the experience to assist with claims and care services.? In a folder I sent to people, I write a summary page with useful information about benefits and whom to call to file a claim.? I explain to people who will not remember over time that caregiving and care services will change with an application program on a smartphone and remote care devices. Fine, if you want to say, I am a salesman because we all sell products and services. Gates, Bezos, Buffet, and any elected official sells products, or they want the power to legislate their ideas for the people residents and citizens living in America. Besides being a salesman, I am also an advisor with experience and competency to ask questions to people on the topic of owning a care benefit to pay for care services.? Char Hu, in your interview, helps people to comprehend what I explain or ask questions of people: "Caregiving will change in the future," "Filing a claim has challenges," and "Do you understand why you own a plan?" If I can get people to understand and think in their minds: Now I know what this is about or I never thought about it that way, then I will have a client.? People feel comfortable to wait for a crisis to occur and then want a plan. The goal is to have a plan in place so that caregiving benefits solve at least 2 issues: Money to pay for care and the availability of care support services.? Travelers know this with the credit cards they have or lounge or travel services they subscribe so that when there are travel issues, they have a support to help them with information or people to help with travel plans.? As a combat veteran, I am not a fan of pain and I have experienced pain and agony. That is why I am a benefits advisor doing what I do so Char Hu can help people when a family needs care, claim and advisory services. Pleasant Sunday.?