Automated EHR Summarizer is a new digital solution that Munich Re Life US and Clareto have unveiled to expedite the study of electronic health data (EHR).
A user-friendly, human-readable HTML report and structured digital data for integration with other models, rules, and analytics platforms are the tool’s two unique outputs.
The reinsurer notes in a press statement that this new tool is designed to pull EHR data from its original sources, standardize it, and highlight important details for underwriters as well as offer triage advice.
Munich Re Life US adds that the technology will make evaluating health estimates for expedited underwriting programs faster and more accurate by cutting down on the laborious human EHR assessment procedure. Light-touch underwriting situations and post-issue audits are other uses for this instrument.
Munich Re North America Life’s vice president of integrated analytics, June Quah, outlined the new tool’s features and how it can assist life insurance companies in better meeting consumer expectations.
Quah stated, “This product pushes the boundaries of digital transformation in the industry by leveraging our leadership in risk assessment, technical expertise in data analytics — including artificial intelligence and natural language processing techniques — and access to an unmatched EHR network.”
The CEO of Clareto, Dave Dorans, also underlined the new product’s wider industry significance.
“We think this offering will help carriers and customers by further streamlining underwriting and accelerating the uptake of EHRs. We are closing the gap between industry use of digital medical records and their availability by replacing more cumbersome and expensive data sources with EHRs and streamlining their use using Automated EHR Summarizer, according to Dorans.
