Munich Re Life US and Owl.co Partner to Unleash Missing Context on Claimant Activities to Better Manage Claims

_{April 26, 2023}
 

Munich Re Life US is excited to announce that we have entered into a strategic partnership with Owl.co, a customer insight engine that provides unbiased claimant information to insurers, supporting faster and better claim decisions.

Today’s claim organizations often struggle to paint a complete picture of claimant risk — one that goes beyond medical data and self-reported claimant activities and provides a comprehensive view of the claimant’s lifestyle. As part of our partnership with Owl.co, Munich Re aims to provide claim organizations with seamless access to external and unbiased claim data, providing them with a clearer and more comprehensive view of their claimant’s circumstances.

Creating operational efficiencies with a holistic claimant view 

How well do you know your claimants? In today’s virtual world, individuals contribute to their digital footprint daily. The dramatic rise in digital platforms that track an individual’s activity, such as side hustles and recreation, provides carriers with the opportunity to create a more robust claimant profile. However, obtaining data from the most common resources – medical providers, employers and the claimant themselves – only provides very limited and narrow view of a claimant’s circumstances. The omission of data from additional digital resources means carriers could be overlooking crucial information and red flags as they manage stable and permanent claims.

Leveraging Owl.co’s monitoring platform, carriers can access evidence from thousands of publicly available data sources – in a compliant and consistent manner – to help identify claims that may require additional scrutiny, guiding examiners to active claims that would benefit from deeper examination. This process can create operational efficiencies for claim organizations including reduced claim duration, more effective use of costly resources, such as surveillance, and expense reduction overall.

Munich Re and Owl.co: Unlocking new, unbiased claimant insight

Munich Re’s partnership with Owl.co will combine their advanced technology with our deep disability claim expertise to help our clients manage claims better and faster. With no integration or disruption to existing claim teams, the solution can be implemented in a matter of days. After setup, a prioritized claimant digital footprint is shared with insurers and then machine learning automatically, and continually, improves claim insights prioritization based on carrier feedback.

As the insurance market evolves, carriers must embrace the digital landscape. Our partnership with Owl.co is another example of how Munich Re is working with visionaries and leveraging innovative technologies to enable carriers to reach new heights. Next month, we will be introducing the Munich Re Claim Suite, a collection of innovative solutions that address carriers’ biggest claim-related challenges.

Get in touch to learn more about Munich Re’s strategic partnership with Owl.co and how to implement their innovative claim monitoring solution today!