Braintree, MA (Sept. 15, 2022) – MIB, the life insurance industry’s most trusted and secure partner for data-driven risk management and digital services, is pleased to announce an agreement with DigitalOwl, a provider of innovative AI-powered data analysis software, to present electronic medical data in an underwriting-driven format. MIB clients will be able to obtain medical records across multiple electronic health records (EHRs), health information exchanges (HIEs), and patient portals, including a user-friendly, standardized output tailored to the needs of the life insurance industry.
Focused on accelerating the adoption of electronic medical data, MIB has partnered with DigitalOwl to provide structured, easily digestible insights capable of simplifying the underwriting assessment process. Exclusively available to clients of the MIB Electronic Medical Data Service, data from multiple sources will be provided in a consolidated format, facilitating faster underwriting decision making through the prominent identification of critical information in a single output.
By the industry, for the industry, MIB has a long history of collaborating with life insurance carriers, reinsurers, and other partners to provide solutions that address common challenges. “We recognize the importance of applicant-specific data in the underwriting process,” said Andrea Caruso, Executive Vice President and Chief Operating Officer at MIB. “The manual review of inconsistently structured medical data is time consuming and inefficient. By providing an underwriting-focused, standardized view, our customers will be able to quickly identify the critical elements needed for appropriate risk assessment while improving the client application experience.” She continued, “We are excited to partner with DigitalOwl to combine our knowledge and expertise to streamline the underwriting process and deliver insights that benefit the life insurance industry.”
“We are very excited about the combined strength of our natural language solution for summarizing data and MIB’s leading position for EHR’s in the Life Insurance Industry,” said Yuval Man, Co-Founder & CEO of DigitalOwl. “We really see this as another step in the evolution of the underwriting process. By linking industry knowledge, technology, and electronic health data, we are enabling the industry to make more efficient underwriting decisions.”
MIB remains committed to driving efficiencies through our Medical Data Solutions platform, including the acceleration of electronic record release rates, seamless reflexive APS capabilities, and interactive underwriter-focused outputs. With their industry knowledge, connections, and capabilities, MIB is the clear partner of choice to be the life insurance industry’s single source of access to medical data for underwriting.
MIB Group Holdings, Inc. is the insurance industry’s most trusted and secure partner for data, insights and digital solutions that support underwriting and actuarial decision making and improve industry efficiencies. With deep connections to the life insurance companies who are its members, and a sole focus on improving the insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably. MIB Group Holdings, Inc. provides services through its wholly owned operating subsidiaries, MIB, LLC, MIB Services, LLC and MIB Solutions, LLC. For more information, visit www.mibgroup.com.
DigitalOwl offers an innovative solution for analyzing and summarizing medical records for the insurance industry. The Company has introduced the first and only machine learning platform that interprets medical records and assists underwriters and claim adjusters in their work. For more information, visit www.digitalowl.com.
SOURCE: DigitalOwlTags: Life Insurance, MIB Life Index, partnership, United States (USA)