MIB’s Acquisition of Clareto: A Strategic Play to Transform Life Insurance Underwriting

In an era where data is the new currency, the life insurance industry is undergoing a quiet but transformative shift. On May 2, 2025, MIB (previously the Mutual Insurance Network) announced its acquisition of Clareto, a digital health data platform, from Munich Re Life US. While the deal’s financial terms remain undisclosed, its strategic implications are profound. This move positions MIB at the forefront of a sector racing to modernize underwriting processes, reduce inefficiencies, and leverage artificial intelligence (AI) to assess risk more accurately.

The Rationale: Why This Deal Matters

The life insurance industry has long struggled with fragmented access to electronic health records (EHRs). Insurers often face delays in retrieving medical data, requiring manual processes like attending physician statements (APS), which can slow underwriting timelines and increase costs. Clareto’s platform, which provides HIPAA-compliant access to EHRs without requiring patient portal credentials, directly addresses this pain point. By acquiring Clareto, MIB combines its own Medical Data Solutions platform with Munich Re Life US’s alitheia risk assessment tool, creating a unified system for insurers to streamline underwriting.

The partnership’s vision is clear: to digitize underwriting by enabling insurers to access EHRs seamlessly, automate risk analysis, and reduce reliance on outdated manual processes. As MIB CEO Brian Winikoff stated, the deal aims to tackle the “fractured landscape” of medical data retrieval, a problem costing insurers time and money.

The Strategic Play: Data + Analytics = Efficiency

The acquisition merges two critical capabilities:
1. Expanded Data Access: Clareto’s network grants insurers access to EHRs from thousands of healthcare providers, while MIB’s platform aggregates data from its member insurers. Together, they create a near-real-time view of applicants’ health histories.
2. Advanced Analytics: Munich Re’s alitheia platform, which uses AI to model risk, pairs with MIB’s RiskRighter tool (acquired in 2023) to summarize data and automate underwriting decisions. This integration could cut underwriting timelines by up to 40%, according to industry estimates.

The combined system also introduces reflexive services, such as automatically escalating to APS when EHRs are unavailable, ensuring no delays. For insurers, this translates to faster policy issuance and better risk pricing—a critical advantage in a competitive market.

The Broader Industry Shift

The MIB-Clareto deal is part of a larger trend reshaping the insurance sector. The 2025 M&A landscape reflects a surge in consolidation around technology and data-driven solutions.

Consider the numbers:
- The life insurance tech sector saw a 35% increase in deal value year-over-year in Q1 2025, as insurers invest in platforms that reduce administrative costs and improve customer experience.
- Munich Re’s alitheia platform, used by over 150 insurers globally, now processes 2.3 million risk assessments annually—a figure set to grow as MIB’s network expands.

Moreover, the partnership aligns with regulatory pushes for interoperability in healthcare data. In the U.S., the 21st Century Cures Act mandates that patients can access their EHRs digitally, a shift insurers must adapt to. MIB’s move ensures it stays ahead of compliance requirements while future-proofing its services.

The Risks and Challenges

No deal is without risks. Privacy concerns loom large, as EHRs contain sensitive health information. Both MIB and Clareto must ensure robust cybersecurity measures to prevent breaches—a lesson from recent ransomware attacks on healthcare systems. Additionally, insurer adoption of the platform hinges on its ease of integration with existing systems.

There’s also competition. Rival platforms like Verisk Analytics and Guidewire Software are also expanding their underwriting tech stacks. To stand out, MIB must demonstrate measurable ROI for insurers—such as reduced underwriting costs or faster policy issuance times.

Conclusion: A New Era for Life Insurance

The MIB-Clareto acquisition is more than a corporate deal—it’s a blueprint for the future of insurance underwriting. By unifying EHR access with AI-driven analytics, MIB is positioning itself as a “one-stop-shop” for insurers seeking efficiency and accuracy.

The broader market context supports this move. In 2025, the global life insurance technology market is projected to grow at a 12% CAGR through 2030, driven by digital adoption. Deals like this aren’t just about capturing data—they’re about transforming an industry.

As MIB CEO Winikoff noted, “This isn’t just about data; it’s about building trust.” In an age where consumers demand transparency and speed, insurers that invest in seamless, tech-driven solutions will lead. For now, MIB is betting big—and the stakes couldn’t be higher.