MIB Group Holdings, Inc. has acquired Clareto, a provider of electronic health records (EHR), from Munich Re Life US, in a move that signals a push toward increased use of digital medical data in life insurance underwriting.
The acquisition is part of a newly announced partnership between MIB and Munich Re Life US intended to improve access to medical data and develop automated risk assessment tools through integrated platforms and shared analytics.
The agreement will consolidate Clareto’s EHR network with MIB’s existing Medical Data Solutions, forming what the companies describe as a more unified access point for medical records in an industry where data retrieval remains fragmented.
The combined platform will operate under the MIB EHR banner and offer new services to clients of both firms.
Clients using the platform can expect expanded medical data coverage, more data sources, and a range of summarization options. These include capabilities from RiskRighter, MIB’s summarization service, and alitheia, Munich Re’s decisioning platform designed to support automated risk analysis.
Clareto clients will also be able to use features from MIB’s system, such as automatic transitions to attending physician statement (APS) collection when EHRs are unavailable.
Jas Awla, president of MIB Medical Data Solutions, said the initiative aligns with MIB’s plans to serve as a central access point for underwriting-related data.
"In addition, we are also excited to align with Munich Re for broad data analytic capabilities tied to electronic health records to streamline underwriting processes for our members," said Awla.
Munich Re North America Life CEO Mary Forrest said that the reinsurer’s work with Clareto has provided experience in using EHRs to support risk assessment.
"This collaboration with MIB will allow us to provide our clients with an entire set of new solutions to assist them in digitalizing their underwriting processes and delivering value across the insurance value chain. The result will drive quicker decisions and greater customer satisfaction that enables both new business growth and improved protective value," Forrest said.
Brian Winikoff, president and CEO of MIB, described the transaction as a step toward improving efficiency and confidence in underwriting decisions, noting that the industry continues to face challenges in obtaining consistent and reliable medical data.
In addition to integrating platforms and data services, MIB and Munich Re plan to collaborate on the development of analytic tools and thought leadership focused on the role of medical data in underwriting automation.
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