Munich Re Life US launches new digital solution for electronic health records

Munich Re Life US launches new digital solution for electronic health records | Insurance Business Australia

Reinsurance

Munich Re Life US launches new digital solution for electronic health records

Tool will offer two outputs for streamlined data delivery

Reinsurance

By
Kenneth Araullo

Munich Re Life US, in partnership with Clareto, has unveiled a new digital tool named Automated EHR Summarizer, designed to streamline the analysis of electronic health records (EHR).

The tool offers two distinct outputs: a user-friendly, human-readable HTML report and structured digital data for integration with various rules, models, and analytics platforms.

In a news release, the reinsurer explains that this new tool is also engineered to extract and normalize EHR data from its original sources, highlighting critical information for underwriters and providing triage guidance.

Munich Re Life US also notes that the tool is set to reduce the time-consuming process of manual EHR review, offering a more efficient and precise approach to assessing health projections for accelerated underwriting programs. The tool is also suitable for post-issue audits and light-touch underwriting scenarios.

June Quah, vice president of integrated analytics at Munich Re North America Life, highlighted the capabilities of the new tool and the role it will play in helping life insurance carriers further align with customer expectations.

“This product leverages our leadership in risk assessment, technical expertise in data analytics — including artificial intelligence and natural language processing techniques – and access to an unparalleled EHR network to push the boundaries of digital transformation in the industry,” Quah said.

Dave Dorans, CEO of Clareto, also emphasized the broader industry implications of the new product.

“We believe this product will accelerate the adoption of EHRs and further streamline underwriting, benefiting both customers and carriers. With EHRs replacing more onerous and costly data sources, and Automated EHR Summarizer simplifying their use, we are bridging the gap between access to digital medical records and their practical use in the industry,” Dorans said.

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