RGA Announces Strategic Investment And Exclusive Global Life And Health Reinsurance Partnership With DigitalOwl; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Reinsurance Group of America (RGA) has announced a strategic investment and exclusive global life and health reinsurance partnership with DigitalOwl, a tech company specializing in AI for medical record analysis. This partnership aims to enhance underwriting processes by automating data synthesis for comprehensive digital underwriting decisions. The collaboration is expected to address long-standing inefficiencies in life insurance underwriting.
January 09, 2024 | 2:16 pm
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RGA's partnership with DigitalOwl is set to enhance its underwriting efficiency and decision-making capabilities, potentially leading to improved operational performance and competitive advantage in the life and health reinsurance market.
The strategic investment and partnership with DigitalOwl indicate RGA's commitment to innovation and operational efficiency, which are likely to be viewed positively by investors. The use of AI in underwriting could streamline processes and improve accuracy, potentially leading to cost savings and better risk assessment. While financial terms were not disclosed, the market typically reacts favorably to technological advancements that promise to enhance business operations.
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