Swiss Re is partnering with health data specialist Diameter Health on a scalable solution that leverages electronic clinical health data for life insurance underwriting.
It’s hoped the partnership will transform complex clinical electronic health data into organised, usable information thus accelerating Swiss Re’s efforts to help life insurers improve the speed and quality of their underwriting.
The joint effort begins in the US and will see enriched data ingested and automated via Swiss Re’s suite of Magnum Underwriting Solutions.
“Being able to accurately use electronic health record data is one of the biggest challenges for Swiss Re’s clients,” said said Jolee Crosby, Head of Swiss Re’s Global L&H Underwriting and Medical Reinsurance.
“This urgency certainly increased due to the COVID-19 pandemic which magnified the difficulties of collecting physical medical records from doctor’s offices or through intrusive home visits.
“By combining Swiss Re’s risk knowledge with Diameter Health’s technology, we cut through complexity and can offer a range of innovative options that enable our clients to use clinical data to effectively assess and confidently price biometric risk.
“Until now no one has been able to use clinical data in this way. The partnership with Diameter Health leapfrogs our ability to help insurers innovate without sacrificing strong, confident risk assessment.“
“We are proud to partner with Swiss Re in its work to make the world more resilient,” said Eric Rosow, CEO of Diameter Health.
“Our health data optimisation technology will enable Swiss Re to transform rapidly growing volumes of raw digital health data into a strategic asset. We look forward to working together to apply this data to make a meaningful difference for insurers and the people who seek to purchase insurance”