By Christian Vance, Head of Channels and Partnerships
Another month, another exciting partnership! Today, we announced our new partnership with MIB, the life insurance industry’s most trusted and secure partner for data-driven risk management and digital services.
When we began this journey at DigitalOwl a few short years ago, our mission was to first tackle the toughest problem facing the industry – scanned records. Scanned records are often very confusing, complex, and difficult to extract meaningful data from. However, the organizations that partner with us know that is no longer the case as our NLP technology extracts, understands, and interprets the data in these records at a pace far more efficient than manual review, saving our partners their valuable time and resources.
We will now expand our focus from traditional scanned APS records to electronic health records (EHRs), and our partnership with MIB will allow us to soon lead the way in this important facet of the industry.
What This Means
MIB has developed industry-leading capabilities and deep industry knowledge through their longstanding connections with life insurance carriers, reinsurers and other partners.
Through the partnership, MIB and DigitalOwl partners will now have the exclusive ability to obtain medical records across multiple EHRs, HIEs, and patient portals, including a user-friendly, standardized output tailored to the needs of the life insurance industry.
Underwriting has come a long way, especially in recent years, as the industry moves towards a more digitized framework. We’re proud to be in partnership with MIB, who has been leading this charge with digital data for quite some time.
“We are very excited about the combined strength of our natural language solution for summarizing data and MIB's leading position for EHR's in the Life Insurance Industry,” said Yuval Man, Co-Founder & CEO of DigitalOwl. “We really see this as another step in the evolution of the underwriting process. By linking industry knowledge, technology and electronic health data, we are enabling the industry to make more efficient underwriting decisions.”
A Behind-The-Scenes Takeaway
As we evolve at DigitalOwl, it’s important to align ourselves with organizations that understand the up and down shifts of the insurance marketplace. Good relationships are built on strong foundations that help you, or in this case, your organization, advance. Our focus on improvements and a great relationship like this one will change the course of the industry forever.
It’s an exciting time to be a DigitalOwl partner!
DigitalOwl offers an innovative technology solution for analyzing and summarizing medical records for the insurance industry. The company has introduced the first and only machine learning platform that interprets medical records and assists underwriters and claim adjusters in their work. A deep understanding of the medical text creates a focused set of medical data points in a robust, meaningfully summarized format. Data is arranged chronologically, allowing the user to search and filter the information by medical condition, date, body system, and more. The complete history is contained within a few pages rather than hundreds, allowing clients to speed up their medical records review process and free up their talented resources to focus more time on critical activities. For more information about DigitalOwl, visit www.digitalowl.com.
MIB Group Holdings, Inc. is the insurance industry’s most trusted and secure partner for data, insights and digital solutions that support underwriting and actuarial decision making and improve industry efficiencies. With deep connections to the life insurance companies who are its members, and a sole focus on improving the insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably. MIB Group Holdings, Inc. provides services through its wholly owned operating subsidiaries, MIB, LLC, MIB Services, LLC and MIB Solutions, LLC. For more information about MIB, visit www.mibgroup.com.