Definition: Electronic insurance refers to a type of insurance that uses electronic technology and software to store, transmit, and analyze information about customers' health status, including age, gender, medical conditions, and other factors. This information can be used by insurers to make informed decisions about their policies. In an electronic insurance system, the insurer stores information about its policyholders in a digital format called "claims data" or "medical records." These records include details such as the patient's name, address, date of birth, medical history, and any relevant insurance claims made. The insurer also uses this information to identify which customers are at risk for certain conditions. When an insurer receives a claim from a policyholder, it will retrieve the patient's health record data and compare it with their previous medical records. If there is a match between the claim and the patient's personal information, the insurer can issue an insurance policy based on that information. Electronic insurance systems can also provide real-time updates to customers about their health status, allowing them to make informed decisions about their own or others' health care needs. Additionally, they can help insurers identify potential fraud and other risks associated with policies. Overall, electronic insurance is a technology-driven approach to the way in which insurance companies handle customer information and make claims.
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