A truly connnected process for a connected world

At Munich Re we want to drive change and invest in digitalising the life insurance underwriting process. As an industry, we must find more efficient ways of interacting with both customers and medical professionals so more people can purchase the protection they need without dated processes delaying them. Now, more than ever, is the time to shift our approach and drive digitalisation within this space - it is about having a truly connected process for a truly connected world.

We are proud to offer our digitalised rule set in various ways, from our rules engine to tailored first and second stage underwriting. Our cloud-based solutions provide automation of point of sale and online dialogue with applicants and GPs with an instant MIRA-based decision.

At the end of 2020 we launched MIRApply Physician in the UK, to test GPs’ appetite for adopting a digital process for requesting, creating and evaluating medical reports in the application process. By using MIRApply Physician we can: 

• Reduce the burden on our National Health Services as the swift digital process allows them more time to focus on their core service.
• Improve the digital assessment of applications with structured and consistent underwriting. This means a more efficient operation for insurers and quicker results for customers.
• Enables the industry to adhere to regulatory guidelines. For example, with a structured, consistent assessment, we can guarantee we request, and then assess, mental health data in line with the ABI Mental Health Standards in insurance.

Given the proven success in Germany, with an average GP return rate of 68%. We are currently excited to be working with two insurers in the UK market to test the GP adoption of MIRApply Physician and ultimately start driving the change.