ATLANTA--(BUSINESS WIRE)--Munich Re, US (Life) introduced its new underwriting training program to the enthusiastic response of nearly 1,000 life insurance underwriters at the Association of Home Office Underwriters Annual Conference in San Diego, California last week. At the core of the training offerings is a library, which currently contains over 70 videos covering the key risk factors in frequently seen medical impairments, non-medical avocations and emerging trends. There is also a comprehensive section on financial underwriting.
Each of the training topics features research from Munich Re medical directors and a team of specialized underwriters. The videos, which are typically two to five minutes in length and focus on a single subject, are created and presented by underwriters. Bill Moore, vice president, underwriting and medical commented, “We feel the personalization of the training videos will help clients put a face with a name and know who to reach out to with questions.”
Moore further commented, “Munich Re is committed to filling the training needs of our clients. These videos represent a step forward in providing easily accessible, concise information to underwriters, whether they are new and need basic training, or experienced and want a refresher. Regardless of experience level, these videos provide an effective tool for companies striving for consistent, high quality underwriting decisions.”
The library is housed in the EDGE underwriting manual, which is available to Munich Re customers across North America. Munich Re underwriters are continually adding new subjects to the library, which currently covers medical subjects such as breast cancers, heart disease, elevated A1c, and sleep apnea, and non-medical subjects such as motor vehicle racing and foreign travel.
“Staying on top of emerging trends is a constant challenge for underwriters,” said Moore. “Our library currently houses nine modules focused on emerging trends such as the use of Truvada® to prevent HIV infection, bariatric surgery, and medical and recreational marijuana use. I’m proud of the quality research our underwriters have done and their distillation of complex topics into easily understood, short presentations.”
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 an office in Chicago, 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 the ERGO Insurance Group, 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.