Reinsurance Group of America has recently unveiled a significant strategic investment and an exclusive global life and health reinsurance partnership with DigitalOwl.
This partnership aims to revolutionise the industry by integrating DigitalOwl into RGA’s internal underwriting operations. It is hoped that this will enhance the efficiency of the operation and deliver a seamless digital experience.
RGA has been a major proponent of underwriting excellence in the industry for the past 50 years, and this latest move is the next step in continuing that journey.
As part of the collaboration, RGA will produce a digital solution for carriers that will automate the processing of numerous sources, to produce an all-encompassing solution.
Dave Rengachary, Senior Vice President, Head of Underwriting, U.S. Individual Life, RGA, said, “For more than 50 years, RGA has been deeply committed to underwriting excellence as a cornerstone of our client value proposition. Through our strategic partnership with DigitalOwl, this pursuit of excellence continues. Enabled by DigitalOwl technology, we are developing a digital solution for carriers that will automate the processing of numerous sources of structured and unstructured data and synthesise them into a comprehensive underwriting decision in an all-digital format. Furthermore, we will integrate DigitalOwl as a core component of our internal underwriting operations.”
DigitalOwl is an InsurTech platform that enables insurance professionals to transform complex medical data into actionable insights rapidly and accurately.
Their suite of innovative products addresses diverse needs in the insurance industry, offering solutions to view, triage, connect, and chat with medical data.
Yuval Man, Co-Founder and CEO, DigitalOwl, said, “With applications across numerous disciplines, including underwriting, automation, claims, and in-force analysis, DigitalOwl’s technology addresses inefficiencies that have plagued the life insurance underwriting process for decades. Working closely with RGA, we will be positioned to deliver transformative solutions to more clients and lead the digital transformation that is needed in the industry.”
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