MIB acquires Clareto, forming strategic partnership with Munich Re Life US to expand access to electronic medical data and develop advanced data analytics

ByClareto

Combined offering of MIB EHR and Clareto will create clear market leader MIB, the life insurance industry’s most trusted and secure partner for data-driven insights and digital services and Munich Re Life US, part of Munich Re Group and a leader in risk assessment and reinsurance, today announced a strategic partnership to accelerate the adoption of…

On HIEs, Data Quality, and the NCQA DAV Program

ByClareto

Introduction Life insurance companies rely on access to accurate, reliable, and readily available health information to support the underwriting process. In this article, we examine a new data quality initiative that is gaining traction among health information exchanges (HIEs) and other data aggregators, including a majority share of those participating in our EHR+ network. About…

Cost-Benefit Analysis: Quantifying the Value of EHRs

ByClareto

Munich Re Life US assessed the potential value of Electronic Health Records (EHRs) under various assumptions by performing a cost-benefit analysis on a sample of two hundred life insurance applications for which EHRs were ordered post-issue. The mortality savings from using EHR data, had it been used in the risk selection, was compared to the…

Crossing the Chasm: Rising Use of EHRs in Life Insurance Underwriting 

ByClareto

Highlights  Key Findings  Growth in EHR Adoption  Since 2018, EHRs have been a strategic priority for a large and growing percentage of life insurance companies, a majority of which have transitioned from evaluation to some level of production use over the past few years. Currently, 93% of life insurance companies surveyed are using (61%) or…