MIB Group Boosts Underwriting with Clareto Acquisition from Munich Re for Enhanced Electronic Health Record Integration

MIB Group Boosts Underwriting with Clareto Acquisition from Munich Re for Enhanced Electronic Health Record Integration

MIB Group, a prominent provider of data-driven solutions for the life insurance sector, has taken a significant step in its growth strategy by acquiring Clareto, a medical record retrieval company, from Munich Re Life US. This acquisition is poised to enhance MIB’s capabilities in electronic health records (EHR) adoption for life insurance underwriting, as reported by InsurTech Insights.

Strategic Partnership with Munich Re

The acquisition of Clareto signifies a broader collaboration between MIB and Munich Re aimed at improving data access and analytics. This partnership is expected to facilitate more automated and streamlined risk assessments in the life insurance industry.

Integration of Clareto’s Expertise

Although the financial details of the deal remain undisclosed, the integration of Clareto’s expertise into MIB’s existing EHR platform will yield several benefits:

  • Enhanced access to a broader array of medical data sources.
  • New summarization options that will improve the underwriting process.

“The advancement of our electronic medical data solution is part of MIB’s broader strategy,” stated Jas Awla, President of MIB Medical Data Solutions. “We look forward to expanding our relationships and data sources to become the industry’s one-stop shop not just for medical records, but for all types of underwriting data.”

Improving Digital Underwriting Solutions

Mary Forrest, President and CEO of Munich Re North America Life, emphasized the strategic alignment of this partnership: “This collaboration with MIB will allow us to provide clients with new digital underwriting solutions that accelerate decision-making and enhance customer satisfaction.”

Streamlining Underwriting Data Acquisition

Brian Winikoff, President and CEO of MIB, highlighted the challenges in the current underwriting data acquisition process: “The process to obtain quality underwriting data remains fragmented and inefficient. Partnering with Munich Re enables us to offer greater access to critical medical data and services that support faster, more confident decisions.”

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For more insights into the future of data-driven solutions in life insurance, visit our Data Solutions page or explore MIB’s official site.

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