MIRA. Next generation underwriting

Transcription

1 MIRA Next generation underwriting

2 IT S A CHANGING WORLD. Lifestyles and workstyles are evolving faster and faster, creating new risk profiles and market opportunities. And competition continues to intensify. To profit consistently in today s and tomorrow s business environment, insurers need swift, efficient and reliable processes. Munich Re s internet-based underwriting tool MIRA is a highperformance integrated solution that fits seamlessly into your workflow. MIRA gives you instant access to a vast and continuously evolving pool of rating recommendations as well as interactive support from Munich Re underwriting experts and enables you to process and store the resulting documentation in your own data infrastructure.

3 A SURGE IN UNDERWRITING EFFICIENCY MIRA: High-performance support that fits right into your workflow For underwriters, MIRA means: k Optimised workflow efficiency k Seamless integration into your data infrastructure k Up-to-date information, just a few mouse clicks away k Evidence-based risk profiles k Expert help in rating substandard business For insurers, MIRA means: k Process optimisation k Enhanced productivity k Greater transparency k One system, extensive underwriting support k Consistently risk-adequate ratings

4 THE CHANGING TIDES OF RISK Evolving risk factors call for adaptable tools In an age marked by leaps in medical technology and bioscience, unprecedented levels of business and leisure travel and ever-changing new sporting trends, efficient and consistent risk assessment can be a daunting task even for experienced underwriters. Access to current medical data is often not enough to guarantee accuracy: you need up-to-date information that has been verified and evaluated in terms of what it means for different covers in your region. And it must be presented in a manner that fits seamlessly into your day-to-day business processes. To stay on top of the ever-changing demands of underwriting in the 21st century, you need equally swift and adaptable tools instruments that fit right into your underwriting workflow. And give you strong support every step of the way. Shifting risks and market needs Today s competitive business environment leaves little room for time-consuming or inconsistent processes. Optimal productivity demands workflows that are not only streamlined but also as uniform as possible. At the same time, evidence-based underwriting must take the full scope of relevant factors into account. Have increased health risks unexpectedly emerged? Or have new treatments rendered an illness less threatening to health and well-being than in the recent past? To make the challenge even more complex, the insurance marketplace is also in constant motion. That means underwriters must be able to react to rapidly changing risk contexts as well: long term care and disability, for example, have become important private insurance products in many countries that traditionally offered their citizens statutory covers. The moment you log into MIRA, the system offers you the latest risk-related news and a clear overview of search options. MIRA is equipped with a high-speed search engine that automatically offers you a dropdown selection of terms when you key in the first letters a big help when it comes to long and complicated medical terminology. Get the most out of MIRA Take advantage of our online MIRA training programme, and learn to use the tool even more effectively. To select your training option and begin getting the most out of MIRA, simply click here >>>

5 FREE-FLOWING BUSINESS PROCESSES A fast and lean tool for underwriting efficiency MIRA is with you every step of the way The state-of-the-art underwriting instrument MIRA places you in a position to master the challenges of risk-assessment and rating in the 21st century. With MIRA, the information you need is just a few mouse clicks away always available, always up-to-date, always relevant to your underwriting needs. The keenly focused tool not only delivers consistently risk-adequate rating re commendations based on the best evidence available, it also gives you direct access to expert support in processing substandard business. And it s integrated: MIRA generates clearly structured digital risk profile documentation for you to process and store in your data infrastructure. User-driven design One of the world s biggest reinsurance groups, Munich Re draws on more than 90 years of expertise in managing substandard risks. We have channelled this history of excellence in underwriting into MIRA. As a key component in our comprehensive array of consulting services, instruments and products to support the strategic development and business processes of primary insurers, MIRA has been engineered to meet reallife underwriting needs. To do so, we have listened closely to what actual users say: the tool s functionalities have been systematically optimised on the basis of extensive worldwide user surveys. That means it supplies the data you require in concise and understandable form and doesn t overload you with unnecessary details. The lean, integrated solution MIRA makes rating faster and easier than ever, while also giving you reliable support in handling substandard business. It generates convenient digital risk-assessment and rating documents for individual benefits or multiple covers, which you can process and store in your IT system. And for special cases, the experts behind MIRA are always at your side: using the secure client communication portal connect.munichre, you can count on swift processing of your referrals when an established cover limit is exceeded or a second opinion is desired. MIRA delivers detailed, clearly structured rating suggestions, which you can adjust individually. You can then print, export the risk synopsis in XML format into your data infrastructure, forward it via or present it to Munich Re underwriting experts for a second opinion.

6 KNOWLEDGE IN MOTION MIRA: Leading expertise at your fingertips At the heart of MIRA is the specialised Munich Re Centre of Competence for Medical Risks Research and Underwriting a team of medical experts, underwriters and actuaries who continuously track global developments and analyse what they mean from an underwriter s perspective. In addition, Local Life Underwriting Units in various regions around the world supply relevant local data and adapt the guidelines to specific markets and risk landscapes. The resulting information is presented in a straightforward, easily understood form right at your fingertips. MIRA greets you with an exceptionally clear user interface, featuring quick links to key functions and a search field to find the information you need. Simply enter the term in question medical, occupational, residential, etc. and the system responds with a brief overview of the parameter and its relevance for various life and supplementary covers in your region. And should you wish to view only the data relevant to specific products, you can even customise the information displayed accordingly. Fast, trouble-free, transparent MIRA is more than a catalogue of risk parameters and rating recommendations: It s a flexible, dynamically evolving work and information platform. It responds to the latest medical progress and to the changing needs of the market. It optimises your processes, enabling you to write policies with greater consistency, transparency and above all long-term profitability. Based on the data you enter, MIRA generates a risk synopsis complete with rating recommendations. Thanks to its override function, you can edit the suggestions in line with your data and company policy. The document can then be easily printed or exported in XML format for use in your IT system. And for maximum transparency, you have the option of retracing your steps throughout the risk-assessment process. That means you not only have access to the vast underwriting knowledge of Munich Re at all times, you can also see for yourself how MIRA arrives at its results. Looking into a specific impairment or lifestyle factor, you can access background details via popups that appear when you move the cursor to a term on the screen (mouseover function).

7 MAKE WAVES WITH MIRA We ll help you put MIRA to work in your workflow Munich Re is at your side with comprehensive support in learning how to get the most out of MIRA. The wide array of information and training options include: Getting in touch and getting started To find out more about how MIRA can help you advance to a higher level of underwriting performance and generate more profitable long-term business, simply contact your Client Manager. If you are not yet a customer, you can get in touch by first contacting Munich Re headquarters via the MIRA website or address k Online and offline training k Live seminars k Digital presentations k Demonstrations k In-depth information material It s so intuitive to use, you ll master its main functions in a snap but client training in PowerPoint or online form is well worth your while: it will familiarise you with the full range of useful features. mira@munichre.com We look forward to hearing from you and welcoming you to the next generation of underwriting excellence. You can even personalise MIRA to present data tailored to your needs and preferences no information overload.

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