TruthMD’s MedFax for Medical Professional Liability – Mitigating Risk in Real Time

TruthMD’s MedFax for Medical Professional Liability was developed to empower medical professional liability insurers through optimized identification, targeting, underwriting, and onboarding of the most desirable insureds. Enabling sustainable, healthy growth in today’s market conditions starts with accurate and verifiable data.

MedFax MPL Solutions

Specially designed solutions for the MPL market

TruthMD has worked with Medical Malpractice Liability (MPL) carriers since its inception to develop a variety of solutions that can be utilized for targeting potential providers, underwriting applicants, converting providers to policyholders, and monitoring books of business. Solutions include:

MedFax MPL CRM Synchronization

Carriers sometimes have a difficult time maintaining accurate/up-to-date information on their policyholders. TruthMD works with carriers to synchronize their Customer Relationship Management (CRM) platforms with its MedFax data platform to ensure a carrier always has the latest updates on a carrier. This ensures highly accurate target marketing lists with detailed contact information at the group and practitioner levels. Customers have found this reduces the amount of returned mail by over 80%.

MedFax MPL New Business Acceleration

Once a provider is interested in a carrier, it can often be cumbersome navigating the application process. To improve the applicant experience, TruthMD clients have begun using the MedFax platform to automatically pre-populate quick quotes, applications, and underwriting tools to reduce the time from initial contact to fully underwritten policy from weeks to days.

MedFax MPL Risk Management

Underwriters are amazed by how much information the MedFax platform can provide instantly. Clients have used this data to augment their underwriting data sources to improve capacity and time to underwrite policies. In addition, carriers use the data to maintain a real-time risk picture for their books of business. Instead of relying solely on re-underwriting every 2-3 years, underwriting departments are notified immediately of changes and can flag them for follow-up from their patient safety, underwriting, and claims departments.