MIB, the life insurance industry’s most trusted and secure parter for data-driven risk management and digital services, announced that it has reached an agreement with Crump Life Insurance Services, LLC to acquire RiskRighter, LLC, a trusted provider of undewriting services to insurance carriers, distribution agencies and other organizations in the life insurance industry. The acquisition expands MIB’s portfolio of underwriting services and brings new capabilities to their Medical Data Solutions platform.
RiskRighter provides support for traditionally inefficient aspects of the underwriting process, leveraging a team of medically trained underwriters that gather and review pertinent information to aid in the mortality and morbidity assessment process. RiskRighter provides a variety of risk assessment services supporting informal inquiries, quick quotes, formal applications and in force policy reviews which streamline client workflows, improve responsiveness and minimize application cycle time. Additionally, RiskRighter’s medical record summaries consolidate critical data into a useful and reliable format that enables underwriters to make faster and more accurate decisions.
“MIB is excited to add RiskRighter’s capabilities to our Medical Data Solutions portfolio,” said Andrea Caruso, MIB’s Chief Operating Officer. “RiskRighter’s ability to provide reliable medical record summaries and other services that have been verified by underwriting experts will expand our offering of dependable underwriter solutions.”
“MIB is a natural fit to to support RiskRighter’s clients and expand RiskRighter’s reach within the life insurance industry,” said Mike Martini, President, Crump Life Insurance Services. “We started the RiskRighter business in 2006 and fully expect to remain a client as MIB takes this platform to another level.”
“RiskRighter’s products compliment and enhance our Electronic Medical Data Services, providing expanded capabilities that support the review, structuring, and assessment of medical data,” continued Caruso. “MIB is committed to expanding RiskRighter’s capabilities by powering them with additional technology, while maintaining the high quality that their clients rely on.”
Additional details about the transaction are not being disclosed.
About MIB
MIB Group Holdings, Inc. is the insurance industry’s most trusted and secure partner for data, insights and digital solutions that support underwriting and actuarial decision making and improve industry efficiencies. With deep connections to the life insurance companies who are its members, and a sole focus on improving the insurance industry, MIB is uniquely positioned to provide data-driven solutions that address common industry challenges and enable clients to gain efficiencies, manage their risks, and grow profitably. MIB Group Holdings, Inc. provides services through its wholly owned operating subsidiaries, MIB, LLC, MIB Services, LLC and MIB Solutions, LLC. For more information, visit www.mibgroup.com.
About RiskRighter
RiskRighter has established a premier reputation in the life insurance industry through our focus on quality, security, innovation, adaptability, and commitment to service. As a result, RiskRighter is the trusted solution for medical records summarization for a number of insurance providers. These providers have realized considerable financial savings and efficiency gains by utilizing RiskRighter in areas that have traditionally been unprofitable and inefficient. Annually, RiskRighter has produced over 350,000 summaries for clients that include 15 major life insurance carriers and more than 50 brokerage general agency and underwriting services clients.
About Crump Life Insurance Services
Crump Life Insurance Services, LLC, a leading third-party distributor and service provider of insurance and retirement products, is part of Truist Insurance Holdings, LLC, the fifth-largest insurance broker in the United States.* Crump supports the distribution of life insurance, annuities, long term care, linked benefits, disability, and health products with industry-leading sales and back-office support and technology services, marketing under the following brands: Crump, Truist Life Insurance Services, and Tellus.
