LIBRA Insurance Partners, DigitalOwl, and RGA Announce Collaboration to Revolutionize and Enhance Efficiencies in the Informals Submission Process
As an extension to the industry's first and only direct distribution-reinsurer facultative reinsurance program, LIBRA firms will submit informal applications to RGA and in return receive a facultative offer, a highly concise DigitalOwl medical summary, and an underlying structured data asset, all managed by RGA.
"We are thrilled to announce this underwriting collaboration which provides transformative efficiencies to what is historically one of the least efficient steps in the life insurance case submission process," said
"Since LIBRA's inception, the driving philosophy behind RGA's involvement with LIBRA's facultative program is to provide a win-win solution for both its firms and our participating carrier partners," said Dave Rengachary, Senior Vice President, Head of Underwriting,
"This is just the first step in our collaboration with LIBRA and RGA," reports Yuval Man, CEO of DigitalOwl. "By leveraging the expertise of both of these industry leaders, DigitalOwl plans to use its groundbreaking generative AI capabilities to truly tailor the Digital Underwriting Abstract to the informals process, as well as completely streamline each step of the communication process between agent, carrier, and reinsurer through our leading generative text capabilities."
With a mission to be the preeminent marketing organization in the country,
1. Differentiate resources and experiences for our partner agencies:
- Proprietary processing tools and platforms for quick quotes and informals
- Exclusive access to a dedicated medical director
- Proprietary product analysis, white papers, and benchmarking tools
- Invitations to exclusive training resources and events
- Best practices and idea sharing at all meetings
2. Deliver proprietary programs, processes, and products to differentiate our partners:
- Partner-owned and producer-accessible reinsurance company (RGA)
3. Exclusive facultative underwriting program with RGA Create uniquely aligned, strategic relationships with carriers
- Carrier SLA/Throughput tool
- Exclusive compensation programs
For more information, visit www.LIBRAIP.com.
About
About DigitalOwl
DigitalOwl is an InsurTech platform empowering insurance professionals to transform complex medical data into actionable insights with unprecedented speed and accuracy. The suite of innovative products allows users to 'View', 'Triage', 'Connect', and 'Chat' with their medical data — addressing the diverse needs of 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. Backed by a Medical Knowledge Base, the platform has a deep understanding of the medical text, creating a focused set of medical data points in a robust, meaningfully summarized format. Data is arranged chronologically, allowing the user to search and filter 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. Follow DigitalOwl on LinkedIn.
About RGA
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702-685-7450
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