Munich Re Life US and MIB Partner to Enhance Electronic Health Records Usage in Life Insurance Underwriting

Munich Re Life US and MIB have partnered to advance the adoption of electronic medical data in life insurance underwriting. This collaboration involves MIB acquiring Clareto, a source of electronic health records (EHR) in the life insurance sector, from Munich Re Life US. The integration aims to streamline access to medical data and improve analytical capabilities for underwriting processes.

The combined platform, offered through MIB EHR, merges data networks from MIB's Medical Data Solutions and Clareto, creating a comprehensive solution for EHR and medical data retrieval. This partnership addresses current challenges in the industry related to fragmented and inefficient data acquisition for underwriting.

Clients will benefit from enhanced access to a wider range of medical records and improved data summarization tools. Features from RiskRighter and Munich Re's Alitheia risk assessment platform will be incorporated to bolster risk evaluation and decision-making accuracy.

Additionally, Clareto's clients will gain access to reflexive services such as automatic switching to traditional attending physician statements (APS) when electronic health records are unavailable, ensuring continued underwriting efficiency.

Executives from MIB and Munich Re emphasized the strategic value of this partnership in digitalizing underwriting workflows, accelerating decision-making, and supporting business growth. The collaboration is positioned to deliver enhanced value across the life insurance value chain by integrating broad data sources and advanced analytics.

This initiative reflects a broader industry trend towards leveraging data-driven insights and digital solutions to improve underwriting workflows, reduce inefficiencies, and enhance competitive positioning for life insurers.