During the Association of Home Office Underwriters (AHOU) 11th Annual Conference, Munich American Reassurance Company announced a critical enhancement to EDGE, its Life underwriting manual. This enhancement introduces an innovative approach to underwriting life insurance for mature ages of 70 and above, and includes a mature age calculator that provides evidence-based mortality determinations resulting from various functional testing results.
"This enhancement continues to emphasize Munich Re's commitment to provide clients with up-to-date information in an easily-accessible format," says Joan Tolan, Vice President, Underwriting, North America (Life), Munich Reinsurance Company. "The mature age calculator reinforces EDGE as one of the preeminent life underwriting manuals in the North America market."
In addition to the mature age calculator, the most recent enhancement will include updates to two publications on mature age: Introduction to Underwriting Applicants Aged 70 Years and Above and Mature Age: Assessment of Physical Functioning.
"By incorporating evidenced-based research in developing new content and tools, we can deliver an underwriting manual that allows more informed and factual underwriting decisions," says Bill Moore, Vice President, Underwriting and Medical Services, Munich American Reassurance Company. "We combine our expertise in biometrics with careful analysis of industry trends and underwriting guidelines in determining the changes and enhancements that will serve the needs of our clients and the U.S. life market.
Changes to the EDGE life underwriting manual are available on April 30, 2012. More information can be found by going to www.marclife.com and clicking on Underwriting Manuals.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client relationships. This is how Munich Re creates value for clients, shareholders and staff. In 2010, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €0.71bn on premium income of around €49.6bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn 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.
Munich American Reassurance Company, 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, Munich American is licensed, accredited or authorized in all fifty states; Washington, D.C.; Guam; and Puerto Rico.
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.
Munich American Reassurance Company
Bill Skowronnek, 770-350-3222