Munich American Reassurance Company (MARC), a subsidiary of Munich Re has announced a significant enhancement to EDGE, its web-based life underwriting manual for assessing mortality risks.
According to the company, the enhancement offers 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.
Munich Reinsurance Company North America (Life) Underwriting vice president Joan Tolan said the enhancement continues to emphasize Munich Re's commitment to provide clients with up-to-date information in an easily-accessible format.
Munich American Reassurance Company Underwriting and Medical Services vice president Bill Moore said by integrating evidenced-based research in developing new content and tools, the company can deliver an underwriting manual that enables more informed and factual underwriting decisions.
Apart from the mature age calculator, the EDGE enhancements will involve updates to two publications on mature age, including introduction to underwriting applicants aged 70 years and above and mature age: assessment of physical functioning.
Headquartered in Atlanta, MARC offers life, disability and long term care reinsurance and also writes group, credit and other reinsurance products.