The new partnership will help accelerate Swiss Re’s efforts to help life insurers improve the speed and quality of their underwriting – thereby providing end-consumers with a better experience.
By pairing the Diameter Health technology with the insurers risk knowledge and underwriting expertise, Swiss Re claimed it can now deploy clinical health data across a variety of “innovative use cases” that make way for faster, less expensive and more accurate underwriting and pricing.
This information will also help insurers speed the time from application to issue, which helps keep costs down and strengthens a “fair underwriting process for all”.
Jolee Crosby, head of global L&H underwriting and medical reinsurance at Swiss Re, said: “Being able to accurately use electronic health record data is one of the biggest challenges for Swiss Re’s clients.
“Until now no one has been able to use clinical data in this way. The partnership with Diameter Health leapfrogs our ability to help insurers innovate without sacrificing strong, confident risk assessment.“
Eric Rosow, CEO of Diameter Health, added: “We are proud to partner with Swiss Re in its work to make the world more resilient.
“Our health data optimisation technology will enable Swiss Re to transform rapidly growing volumes of raw digital health data into a strategic asset. We look forward to working together to apply this data to make a meaningful difference for insurers and the people who seek to purchase insurance.”