Munich Re Life US, part of the global reinsurer, has signalled its intent to buy medical record firm Clareto.
The reinsurance giant said it had signed a definitive agreement to acquire the firm, which has partnerships with over 25 health information exchanges and electronic health record software vendors.
Munich Re said in a statement that the transaction would allow it to structure electronic health records for life insurance underwriting.
The firm also said that it would dedicate its underwriting, medical, and analytical resources to optimise its digitised health information.
Marc Costantini, president and CEO of corporate development, strategy, and digital solutions for Munich Re North America Life & Health spoke in a statement about the deal.
He said: “With this acquisition, Munich Re will provide our life insurer clients with an entire set of new solutions to assist them in digitizing their underwriting processes – driving quicker decisions, delivering greater customer satisfaction and enabling new business growth. We look forward to leveraging our relationship with Clareto to deliver analytical insights from EHRs to enable and enhance the risk assessment processes of our life insurer clients.”
Clareto will continue to be led by CEO Dave Dorans and COO Steve Leighty. There are no changes expected to Clareto’s operating model, personnel, service model or standards.
