Electronic health records (EHRs) are one of the fastest-growing digital health data categories, with over 90% of carriers using or evaluating EHRs for underwriting, according to a recent Munich Re survey. EHRs are rapidly evolving as well –hit rates are improving, new tools are available to unlock their rich data, and studies are proving their value. These advancements move EHRs from the concept stage to reality and finally allow us to visualize the central role they can play in modern life insurance underwriting.
This session brings you up to speed on the current (and future) state of EHRs. The panelists will share results of recent studies conducted by Munich Re Life US and digital health provider Clareto, a Munich Re company. This includes an assessment of the effectiveness of using EHRs in accelerated underwriting, a cost-benefit analysis of the mortality benefit of issuing policies at the correct risk class based on new information from EHRs, and a study of the potential pricing and program gains achieved by using EHRs in fully underwritten programs.
The panelists will then discuss EHRs in practice, with a focus on hit rates, turnaround time, new methods for extracting underwriting-relevant information, and current and future use cases. Attendees will learn how organizations are able to leverage EHRs today for light touch and post-issue accelerated underwriting and, in the future, for insurance at the point of sale.