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LIVERMORE, Calif., May 22, 2017 (GLOBE NEWSWIRE) -- Reterro, Inc., the only fully vertically integrated Brownfield redevelopment company able to eliminate distressed property liabilities safely and sustainably, and Munich Re (Group), one of the world’s leading reinsurance companies, have partnered to provide the industry’s first process substitute performance cover for Reterro’s soil remediation projects. Financial Technology Leverage, a Menlo Park financial services firm, facilitated the creation of the partnership. A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/17dd287e-2b34-468c-9667-678211d32eaa Reterro provides owners of distressed Brownfield properties with advanced soil remediation technology to make contaminated land useable again. The substitute performance cover, offered by a primary insurance carrier of the Munich Re (Group), supports Reterro’s process by paying the additional costs for using the next best remediation method, if needed, at no additional cost to the client. The partnership addresses financial uncertainty and restores the value of distressed properties, without exposing property owners to new or residual risks. While there are many alternatives for site remediation, Reterro’s state-of-the-art soil treatment is like no other on the market today. As a patented, excavation-based approach, Reterro Evaporative Desorption Technology™ (EDT) offers the most advanced process to address Brownfield remediation issues. Non-excavating approaches cannot offer the same remedial certainty. “By developing a unique insurance solution for Reterro we can help further its business development while supporting a more thoughtful and safe method to deal with contaminated soil and Brownfields,” said Jeffrey Sirr, Head of North America for Corporate Insurance Partners, a division of Munich Re. “The substitute performance cover offers remedial certainty to Reterro’s clients and demonstrates Munich Re’s innovative approach to helping our customers further grow their business.” “We are very excited about the value that this partnership with Munich Re brings to our remediation clients. The substitute performance cover assures that remediation can be completed to agreed-upon standards at agreed-upon costs,” said Reterro CEO Tom Doyle. “While Reterro has always stood behind its excellent performance, the support of one of the world’s largest reinsurers makes it a truly compelling benefit.” About Reterro Reterro, Inc., is the only fully vertically integrated Brownfield redevelopment company that completely eliminates distressed property liabilities safely and sustainably. Reterro is unsurpassed in mobility, cost-effectiveness and speed-to-completion, with a record of 100 percent certainty of efficacy. The Evaporative Desorption Technology™ based approach is especially effective in urban, populated and space-constrained environments in which health and safety restrictions prohibit other alternatives. For more information, please visit www.reterro.com.


LIVERMORE, Calif., May 22, 2017 (GLOBE NEWSWIRE) -- Reterro, Inc., the only fully vertically integrated Brownfield redevelopment company able to eliminate distressed property liabilities safely and sustainably, and Munich Re (Group), one of the world’s leading reinsurance companies, have partnered to provide the industry’s first process substitute performance cover for Reterro’s soil remediation projects. Financial Technology Leverage, a Menlo Park financial services firm, facilitated the creation of the partnership. A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/17dd287e-2b34-468c-9667-678211d32eaa Reterro provides owners of distressed Brownfield properties with advanced soil remediation technology to make contaminated land useable again. The substitute performance cover, offered by a primary insurance carrier of the Munich Re (Group), supports Reterro’s process by paying the additional costs for using the next best remediation method, if needed, at no additional cost to the client. The partnership addresses financial uncertainty and restores the value of distressed properties, without exposing property owners to new or residual risks. While there are many alternatives for site remediation, Reterro’s state-of-the-art soil treatment is like no other on the market today. As a patented, excavation-based approach, Reterro Evaporative Desorption Technology™ (EDT) offers the most advanced process to address Brownfield remediation issues. Non-excavating approaches cannot offer the same remedial certainty. “By developing a unique insurance solution for Reterro we can help further its business development while supporting a more thoughtful and safe method to deal with contaminated soil and Brownfields,” said Jeffrey Sirr, Head of North America for Corporate Insurance Partners, a division of Munich Re. “The substitute performance cover offers remedial certainty to Reterro’s clients and demonstrates Munich Re’s innovative approach to helping our customers further grow their business.” “We are very excited about the value that this partnership with Munich Re brings to our remediation clients. The substitute performance cover assures that remediation can be completed to agreed-upon standards at agreed-upon costs,” said Reterro CEO Tom Doyle. “While Reterro has always stood behind its excellent performance, the support of one of the world’s largest reinsurers makes it a truly compelling benefit.” About Reterro Reterro, Inc., is the only fully vertically integrated Brownfield redevelopment company that completely eliminates distressed property liabilities safely and sustainably. Reterro is unsurpassed in mobility, cost-effectiveness and speed-to-completion, with a record of 100 percent certainty of efficacy. The Evaporative Desorption Technology™ based approach is especially effective in urban, populated and space-constrained environments in which health and safety restrictions prohibit other alternatives. For more information, please visit www.reterro.com.


Trifacta's in-memory engine, Photon executes single node data transformations up to 6X faster, complementing Trifacta's support for distributed engines Apache Spark and Google Cloud Dataflow SAN FRANCISCO, CA--(Marketwired - May 16, 2017) - Trifacta, the global leader in data wrangling, today announced Enterprise Strategy Group (ESG) published its latest ESG Lab Review, evaluating the speed and efficiency of Trifacta's Photon Compute Engine for data wrangling. The report validates Trifacta's in-memory engine, Photon, is the fastest, most efficient data processing engine for wrangling data sets that don't require parallel processing, completing transformations on single node environments up to 6X faster, while using up to 98 percent less memory compared to Apache Spark. The audit confirms Photon enables users to execute data wrangling jobs within desktop or single-server settings with unparalleled speed and efficiency. The Photon engine is packaged in every edition of Trifacta, powering the data processing directly within the application as well as serving as the data processing engine for single node data wrangling execution. ESG Lab focused its performance evaluation of Photon only on single node execution performance and not on in-application processing execution. "For many organizations -- and for business analysts in particular -- demand for an efficient, purpose-built data processing engine for smaller scale data wrangling needs has never been more apparent," said Nik Rouda, senior analyst at ESG. "With Photon, Trifacta fills a void in the market -- it provides a fast, highly efficient data wrangling engine for diverse data sets that don't require parallel processing execution. Photon complements Trifacta's highly intuitive user experience and workflow with a purpose-built data processing framework to power its application performance and the execution of wrangling jobs that don't require parallel processing." In addition to Photon, Trifacta supports a variety of multi-purpose engines, including Apache Spark and Google Dataflow for large-scale parallel processing, but created Photon to specifically handle performance of wrangling execution directly in the application and in non-parallel computing platforms such as a desktop or single server. The ESG Lab Review validates Photon outperforms general-purpose computing frameworks such as Spark for data sets that only require the computing resources of a desktop or single server. By providing support for a variety of data processing engines including Photon, Spark and Google Dataflow, each optimized for different data volumes and computing environments, Trifacta users can always leverage the most efficient compute engine for the wrangling task at hand. "We developed Photon to enhance two aspects of our product: application performance and scale, and highly-optimized single server execution of wrangling jobs. Providing a fluid user experience and optimizing processing power for any scale of data are core tenets of Trifacta's architecture and our differentiation compared to other data preparation products," said Sachin Chawla, VP of engineering at Trifacta. "The stellar results found in ESG's evaluation are a testament to the engineering talent at Trifacta and the vision of our founding team." Trifacta Wrangler is used by tens of thousands of users at more than 7,300 companies in 143 countries around the globe. The world's leading brands, including Google, PepsiCo, eBay, Munich Re, Royal Bank of Scotland, Kaiser Permanente, and LinkedIn are unlocking the potential of their data and accelerating time to insight using Trifacta's market-leading data wrangling solution. For more information about the ESG Lab Review, visit here: https://www.trifacta.com/gated-form/esg-evalution-trifacta-wrangler-enterprise/ About Trifacta: Trifacta, the global leader in data wrangling software, significantly enhances the value of an enterprise's big data by enabling users to easily transform and enrich raw, complex data into clean and structured formats for analysis. Leveraging decades of innovative work in human-computer interaction, scalable data management and machine learning, Trifacta's unique technology creates a partnership between user and machine, with each side learning from the other and becoming smarter with experience. Trifacta is backed by Accel Partners, Cathay Innovation, Greylock Partners and Ignition Partners.


News Article | May 16, 2017
Site: www.prnewswire.com

Plug and Play Insurtech's ecosystem brings together the world's largest insurance corporations, startups, and venture capitalists eager to embrace innovation and redefine insurance practices. Since its conception in 2016, corporations have partnered with Plug and Play's Insurtech team to review, refine and ideate with hundreds of startups. The different parties in the ecosystem engage one another through one-on-one private meetings, pitch events, and networking opportunities. This gives the partners a preview of the startups in consideration of further engagement. In 2017, the Insurtech platform hosted 125 sessions between startups, corporations, and VCs, with an average of 4-5 startups reviewed in each meeting. Startups graduating from this program will pitch at Plug and Play's Summer Summit, June 6th-8th, that includes startups from nine of Plug and Play's accelerator programs including Insurtech, Health & Wellness, Fintech, Food & Beverage, New Materials & Packaging, Brand & Retail, Mobility, Travel & Hospitality, and Internet of Things. After graduation, alumni continue on as part of Plug and Play's vast ecosystem. Tickets are still available: http://bit.ly/summersummit17 Established in 2016, Plug and Play Insurtech is one of Plug and Play's largest industry-specific programs. This 12-week business development program is headquartered in Silicon Valley. The program currently has 45 corporate partners including Farmers Insurance, Munich Re, Nationwide, SOMPO Digital Lab, and Travelers, and has worked with hundreds of startups to date. Plug and Play Insurtech runs three separated tracks throughout the program: General Insurtech, Property & Casualty, and Life/Health/Group. For more information, visit http://plugandplaytechcenter.com/insurance/ Plug and Play is a global innovation platform. We connect startups to corporations and invest in over 150 companies every year.  Since inception in 2006, our programs have expanded worldwide to include a presence in 22 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 180 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 365 networking events per year. Companies in our community have raised over $5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.plugandplaytechcenter.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/plug-and-play-insurtech-signs-its-45th-corporate-partner-300458595.html


News Article | May 18, 2017
Site: www.prnewswire.com

Newly elected to three-year terms on the MIB Board of Directors are Dr. Gina Guzman, Vice President and Chief Medical Director, Munich Re, U.S. (Life) who began her first term in September 2016; James E. Hohmann, Chief Executive Officer and President, Members Mutual and Vericity Holdings and Chief Executive Officer for subsidiaries Efinancial and Fidelity Life Association; Jeffrey D. Holley, Executive Vice President, Chief Financial Officer and Treasurer, OneAmerica Financial Partners, Inc. and affiliates; and Harold B. Rojas, Senior Vice President, General Counsel and Corporate Secretary, The Baltimore Life Companies. "I'm honored to work alongside these talented, visionary industry leaders who volunteer their time to be on the MIB Board," said Lee B. Oliphant, President and CEO of MIB Group, Inc.  "MIB Board members provide sharp insights into the life and health insurance industries and invaluable strategic guidance on the evolving needs of our 430 members," said Oliphant.  "I would also like to thank our outgoing Chairman Dave Wheeler for his leadership and passion for excellence during his tenure.  I am pleased that he will remain on the MIB Board as Immediate Past Chair." Mr. Roberts joined the MIB Board in 2012 and will serve as its new Chairman, 2017-2018.  As Senior Vice President and Chief Financial Officer for Ohio National Life Insurance Company he is responsible for rating agency relationships, treasury management, and finance operations for the enterprise.  He began his career with Ohio National in 1994 and was appointed an officer in 1996.  In 1999, he was elected Vice President, Financial Reporting, and has held his most recent title of Senior Vice President and Chief Financial Officer since 2008.  Mr. Roberts is a Certified Public Accountant, a Chartered Life Underwriter and a Fellow of the Life Management Institute.  He is a member of the American Institute of CPAs, Ohio Society of CPAs and Financial Executives International.  In addition, he serves on the Finance Committee of the Greater Cincinnati Foundation and is a trustee for the Bethesda North Hospital Foundation. Mr. Acselrod joined the MIB Board in 2016 and will serve as its new Vice Chairman, 2017-2018.  As Head of Premier Client Group integration and Department of Labor implementation for Massachusetts Mutual Life Insurance Company (MassMutual), he has overall accountability for success of the MetLife Premier Client group acquisition.  Prior to this role, he led New Business and Underwriting where he had accountability for underwriting operations and strategy including oversight of the Life, Disability Income and LTC Underwriting and New Business departments.  Prior to joining MassMutual, Mr. Acselrod held various positions with the U.S. and international businesses of MetLife, Inc. where he served as Small Market Leader, Group Insurance, with P&L accountability for the segment nationally.  Mr. Acselrod led MetLife's Long Term Care and Critical Illness business and also held several other positions in Retail Business, Sales Compensation, Business Architecture, MetLife Japan, and Corporate Planning. Dr. Gina Guzman began serving her first term on the MIB Board in September 2016.  Dr. Guzman is Vice President and Chief Medical Director at Munich Re, U.S. (Life) with oversight responsibilities for Munich Re U.S. (Life) medical and underwriting functions.  Dr. Guzman leads the medical team's content updates to the EDGE underwriting manual, and manages the company's mortality research on impairments.  She is board certified in Internal Medicine and Insurance Medicine.  An in-demand presenter at local, regional and national underwriting meetings in North America, she was an invited speaker for the 2016 ICLAM meeting in the Netherlands.  Dr. Guzman was the 2013 president of the American Academy of Insurance Medicine (AAIM) and remains actively involved on their Executive Council.  She currently serves on the Board of Insurance Medicine, the Board of Managers of the American Council of Life Insurers (ACLI) Medical Section, the ACLI Genetics Task Force, and the ACLI Medical Issues Committee.  She served as President of the Midwestern Medical Directors Association in both 2007 and 2016 and Dr. Guzman is a Fellow of both the Life Management Institute and Academy of Life Underwriting. Mr. James E. Hohmann will be joining the MIB Board in May 2017.  Mr. Hohmann is Chief Executive Officer and President of Members Mutual and Vericity Holdings.  He is also CEO of subsidiary companies Efinancial and Fidelity Life Association.  Previously, he served as President of Conseco (now CNO Financial), President and CEO of Allstate Financial, and most recently was President and CEO of FBL Financial.  In that role he delivered industry leading stock performance and the Company was recognized by Fortune Magazine on its list of the "100 Fastest Growing Companies" based upon growth in revenue, EPS and total return to shareholders. Mr. Jeffrey D. Holley will be joining the MIB Board in May 2017.  Mr. Holley is Executive Vice President, Chief Financial Officer and Treasurer for OneAmerica Financial Partners, Inc. and its affiliated companies: American United Life Insurance, State Life Insurance and the Pioneer Mutual Life Insurance Company.  He is responsible for all treasury and tax functions, mergers and acquisitions and capital markets.  In 2015, he was named CFO of the Year by the Indianapolis Business Journal, in part for leading the acquisition of BMO's U.S.-based retirement services business.  The acquisition increased assets under administration by $26 billion to more than $70 billion, doubling in just under two years.  Mr. Holley served as President and Chief Executive Officer of HLT Partners, Inc. before joining the OneAmerica companies in 2011.  Prior to that, he served as Executive Vice President and Chief Financial Officer of CUNA Mutual Group from 2000 to 2009.  He also served as acting President and Chief Executive Officer in 2004 and 2005.  Mr. Holley's 28-year career in the insurance industry began at PriceWaterhouseCoopers.  He is a Board member of Noble of Indiana, and a former Board member of the U.S. Chamber of Commerce. Mr. Harold B. Rojas will be joining the MIB Board in May 2017.  Mr. Rojas is Senior Vice President, General Counsel and Corporate Secretary for The Baltimore Life Companies and has served in that role since 2005.  Before joining Baltimore Life, Mr. Rojas was Assistant Vice President and Assistant General Counsel with Old Mutual Financial Network, and he held various compliance and legal counsel positions with Conseco, Inc., Jackson National Life and Columbian Mutual Life.  He holds a law degree from Syracuse University College of Law. MIB is the life and health insurance industry's most trusted and secure resource for data-driven risk management services that protect the financial integrity of its members and address their evolving needs. Owned by its members, MIB is uniquely positioned to securely collect and analyze confidential data. MIB services help to detect fraud, errors and omissions on insurance applications; to analyze industry data needed to manage a variety of financial risks; and to make regulatory reporting compliance less onerous and more efficient. As the life insurance industry's first statistical agent, our MIB Solutions, Inc. subsidiary cost-effectively performs annual data calls for those insurers subject to principles-based reserving. MIB Group, Inc., a membership corporation, provides services through its wholly-owned operating subsidiaries, MIB, Inc. and MIB Solutions, Inc.  For more information, visit www.mibgroup.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mib-elects-a-new-chairman-vice-chairman-and-four-new-directors-to-its-board-300459802.html


LIVERMORE, Calif., May 22, 2017 (GLOBE NEWSWIRE) -- Reterro, Inc., the only fully vertically integrated Brownfield redevelopment company able to eliminate distressed property liabilities safely and sustainably, and Munich Re (Group), one of the world’s leading reinsurance companies, have partnered to provide the industry’s first process substitute performance cover for Reterro’s soil remediation projects. Financial Technology Leverage, a Menlo Park financial services firm, facilitated the creation of the partnership. A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/17dd287e-2b34-468c-9667-678211d32eaa Reterro provides owners of distressed Brownfield properties with advanced soil remediation technology to make contaminated land useable again. The substitute performance cover, offered by a primary insurance carrier of the Munich Re (Group), supports Reterro’s process by paying the additional costs for using the next best remediation method, if needed, at no additional cost to the client. The partnership addresses financial uncertainty and restores the value of distressed properties, without exposing property owners to new or residual risks. While there are many alternatives for site remediation, Reterro’s state-of-the-art soil treatment is like no other on the market today. As a patented, excavation-based approach, Reterro Evaporative Desorption Technology™ (EDT) offers the most advanced process to address Brownfield remediation issues. Non-excavating approaches cannot offer the same remedial certainty. “By developing a unique insurance solution for Reterro we can help further its business development while supporting a more thoughtful and safe method to deal with contaminated soil and Brownfields,” said Jeffrey Sirr, Head of North America for Corporate Insurance Partners, a division of Munich Re. “The substitute performance cover offers remedial certainty to Reterro’s clients and demonstrates Munich Re’s innovative approach to helping our customers further grow their business.” “We are very excited about the value that this partnership with Munich Re brings to our remediation clients. The substitute performance cover assures that remediation can be completed to agreed-upon standards at agreed-upon costs,” said Reterro CEO Tom Doyle. “While Reterro has always stood behind its excellent performance, the support of one of the world’s largest reinsurers makes it a truly compelling benefit.” About Reterro Reterro, Inc., is the only fully vertically integrated Brownfield redevelopment company that completely eliminates distressed property liabilities safely and sustainably. Reterro is unsurpassed in mobility, cost-effectiveness and speed-to-completion, with a record of 100 percent certainty of efficacy. The Evaporative Desorption Technology™ based approach is especially effective in urban, populated and space-constrained environments in which health and safety restrictions prohibit other alternatives. For more information, please visit www.reterro.com.


LIVERMORE, Calif., May 22, 2017 (GLOBE NEWSWIRE) -- Reterro, Inc., the only fully vertically integrated Brownfield redevelopment company able to eliminate distressed property liabilities safely and sustainably, and Munich Re (Group), one of the world’s leading reinsurance companies, have partnered to provide the industry’s first process substitute performance cover for Reterro’s soil remediation projects. Financial Technology Leverage, a Menlo Park financial services firm, facilitated the creation of the partnership. A video accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/17dd287e-2b34-468c-9667-678211d32eaa Reterro provides owners of distressed Brownfield properties with advanced soil remediation technology to make contaminated land useable again. The substitute performance cover, offered by a primary insurance carrier of the Munich Re (Group), supports Reterro’s process by paying the additional costs for using the next best remediation method, if needed, at no additional cost to the client. The partnership addresses financial uncertainty and restores the value of distressed properties, without exposing property owners to new or residual risks. While there are many alternatives for site remediation, Reterro’s state-of-the-art soil treatment is like no other on the market today. As a patented, excavation-based approach, Reterro Evaporative Desorption Technology™ (EDT) offers the most advanced process to address Brownfield remediation issues. Non-excavating approaches cannot offer the same remedial certainty. “By developing a unique insurance solution for Reterro we can help further its business development while supporting a more thoughtful and safe method to deal with contaminated soil and Brownfields,” said Jeffrey Sirr, Head of North America for Corporate Insurance Partners, a division of Munich Re. “The substitute performance cover offers remedial certainty to Reterro’s clients and demonstrates Munich Re’s innovative approach to helping our customers further grow their business.” “We are very excited about the value that this partnership with Munich Re brings to our remediation clients. The substitute performance cover assures that remediation can be completed to agreed-upon standards at agreed-upon costs,” said Reterro CEO Tom Doyle. “While Reterro has always stood behind its excellent performance, the support of one of the world’s largest reinsurers makes it a truly compelling benefit.” About Reterro Reterro, Inc., is the only fully vertically integrated Brownfield redevelopment company that completely eliminates distressed property liabilities safely and sustainably. Reterro is unsurpassed in mobility, cost-effectiveness and speed-to-completion, with a record of 100 percent certainty of efficacy. The Evaporative Desorption Technology™ based approach is especially effective in urban, populated and space-constrained environments in which health and safety restrictions prohibit other alternatives. For more information, please visit www.reterro.com.


NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) announced today the appointment of Carol Pierce to the role of director in KBRA’s insurance group with a focus on captives, reinsurers, and alternative capital providers. Pierce joins KBRA’s analytic team after thirteen years with Munich Reinsurance America, where she was responsible for market, competitor, and client analysis, initially for the specialty-markets division and more recently for the reinsurance division. Prior to Munich Re, Pierce worked at A.M. Best, where she managed the team responsible for expanding ratings among captive insurers. Carol has held various underwriting and product development positions with several major insurance companies during her more than thirty years in the insurance industry. Pierce is a former member of the board of directors of the Vermont Captive Insurance Association (VCIA) and the International Center for Captive Insurance Education (ICCIE). She has been an active member of the Captive Insurance Company Association (CICA) and was a past recipient of the VCIA Captive Crusader Award. Additionally, Pierce has been a frequent speaker at industry conferences and has authored a variety of articles. Pierce holds a bachelor’s degree from Smith College and an MBA from the Keller Graduate School of Management. She is a chartered property casualty underwriter (CPCU) and has earned the Associate in Reinsurance (ARe) designation. “We are excited to have Carol on our analytic team. Her unique expertise, keen understanding of the alternative risk market, overall industry knowledge, and analytic skillset are tremendous assets to our credit-ratings team as well as the markets we serve,” said Andrew Edelsberg, managing director in the insurance group. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).


ATLANTA--(BUSINESS WIRE)--More than 90 percent of underwriters are concerned about the potential impact that opioid addiction will have on mortality of the insured population, according to a recent survey by Munich Re, one of the world’s leading reinsurers. The survey of life insurance professionals was conducted at the Association of Home Office Underwriters (AHOU) Annual Conference, held in San Diego, California in April 2017. Of the 126 underwriters surveyed, nearly two-thirds (63 percent) reported that over the last year they have seen an increase in the number of insurance applicants with a history of opioid use. Further, more than half (56 percent) reported that they most often see a medical history of opioid use among applicants ages 35 – 54 years, while only 20 percent reported that they most often see a medical history of opioid use among applicants ages 55 years and older. This result is unexpected as it is generally held that individuals ages 55 years and older are more likely to have taken opioids for pain. More than half (53 percent) of the underwriters surveyed reported that the life insurance companies they work for do not currently test for opioids. Although the vast majority of underwriters surveyed expressed concern about the potential impact of opioid abuse on mortality, only half (50 percent) expect their companies to make any changes to their testing practices. “As the industry is facing one of the worst drug addiction epidemics in American history, it’s apparent that there is a disconnect between the effect this will have on mortality, and the likelihood of life insurance companies to change their underwriting policies,” said Bill Moore, vice president of underwriting and medical for Munich Re, US (Life). Only 8 percent of respondents said their company will test for opioids regardless of the policy size. 21 percent responded that their companies test for opioids for policies over $1 million, and a further 8 percent responded that their companies test at policy thresholds ranging from $100,000 to $1 million. “For life insurance companies, changing policies can appear to be an uphill battle, as it is likely to involve additional expenses for testing, discussions with marketing, or even internal concerns over timing of the approval process,” Moore continued. “However, we do have the tools and resources at our disposal to begin to detect risky behaviors or signs of abuse among policy holders, in the hopes that this may help in addressing the greater problem.” Among those surveyed, 89 percent observed that pharmacy databases could be useful when screening for chronic opioid use, as they have the potential to shed light on frequent prescription refills, or for multiple prescriptions from multiple doctors. The survey was conducted on site at the Association of Home Office Underwriters (AHOU) 16th Annual Conference in San Diego, California from April 2-3 2017, and is intended to represent the views of 126 underwriter attendees, primarily from life insurance companies, who participated in the in-person interviews. Note for the editorial staff: For further questions please contact Munich American Reassurance Company—Munich Re, U.S. (Life), founded in 1959, is one of the largest reinsurers in the U.S. offering life and disability reinsurance to insurance companies throughout the United States. The company also writes group, credit and other reinsurance products. Headquartered in Atlanta, with offices in Chicago and New York, the company is licensed, accredited or authorized in all fifty states; Washington, D.C.; Guam; and Puerto Rico. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2016, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €2.6bn. It operates in all lines of insurance, with over 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in ERGO, one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2016, ERGO posted premium income of €16.0bn. Munich Re’s global investments (excluding insurance-related investments) amounting to €219bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group. This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.


DUBLIN, February 27, 2017 /PRNewswire/ -- Adriatic Slovenica, ktorá má na trhu 15 % podiel, čo z nej robí druhú najväčšiu poisťovňu medzi životnými poisťovňami v oblasti Jadranu, oznamuje, že čoskoro dokončí end-to-end automatizáciu. ALLFINANZ Interview Server od Munich Re Automation S...

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