ExamFirst was founded by Norlyn Dimmitt, FSA in July, 1999. During his tenure as an actuary at Zurich Life (1993-1995), Norlyn promoted, designed, and priced their Super Select Term policy. Unfortunately, this work helped propel the term industry into a chaotic state, with a proliferation of risk classes, rampant misquotes (because so few qualify for the lowest rates), and increased customer dissatisfaction.
Norlyn worked tirelessly to change the entire term delivery paradigm, by allowing customers to get underwritten BEFORE they apply to a term company. By taking their "ExamFirst", misquotes would be dramatically reduced, and policies could be issued much more quickly. Norlyn wrote extensively about the "misquote travesty". We still show his powerful first article as the main page to our Website.
Things have changed since 1999, but rather slowly to be sure. More insurance companies are willing to allow customer exams to be used by competing companies. Paramed exam companies now cooperate with life insurance agents to facilitate this. We must say though that it takes an experienced agent to pull the right strings and make it happen. The end result is that not every misquoted case ends up poorly.
We are still not where we need to be for maximum consumer empowerment, but progress has been made. Agents are more proactive in steering the customer to the best company for his or her underwriting characteristics, thereby reducing misquotes. Customers can help by being forthright about their medical history and previous medical exam results. Of particular importance is to know your cholesterol, ratio and blood pressure. These, combined with an accurate health history, enable an experienced agent to get it right the first time.