Clareto
Clareto provides life insurance carriers with automated electronic health record retrieval and consolidation for underwriting, delivered via the MIB EHR Service through API and portal channels on a usage-based pricing model.
- Company typePrivate
- Founded2016
- HeadquartersRichmond, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Clareto does
Clareto is a healthcare technology company, founded in 2016 and based in Richmond, Virginia, that enables life insurance carriers to access electronic health records (EHR) for underwriting, risk assessment, and application processing. The company operates with a small team of 11–50 employees and its product is delivered in connection with the MIB EHR Service, which provides a single consolidated access point to multiple upstream data sources including EHRs, Health Information Exchanges (HIEs), and Attending Physician Statement (APS) vendors. The company has a strategic relationship with MIB Group (referenced via a 'mib-clareto-partnership' press release) and a strategic partnership with Munich Re focused on advancing electronic medical data adoption and co-developing analytics for automated risk assessment.
The core technology platform automates medical data retrieval through an integrated workflow: a standard HIPAA consent initiates an EHR request; if records are not found, the system reflexes to an Individual Access Service; if still unavailable, it pivots to a traditional APS request — all without manual intervention. Premium features include RiskRighter EHR Summaries (underwriting-specific consolidated summaries) and Medical Data Consolidation (cleansing, de-duplication, and standardized output in PDF, HTML, XML, or JSON to support straight-through-processing). Distribution combines direct enterprise field sales, a secure self-serve website interface, and system-to-system API integration for embedded insurer workflows. Reported performance metrics include 90% faster turnaround versus traditional APS, 50% average cost savings per record, and majority of records released in less than a day.
Clareto's business model is usage-based, generating revenue per record retrieved, with multiple premium features bundled at no additional charge beyond the per-report cost. The go-to-market targets life insurance carriers globally through enterprise sales, and value is concentrated in a single vertical — life insurance underwriting. Revenue, funding total beyond the 2019 Health Catalyst Capital round, ownership structure (independent vs. MIB subsidiary), and management team beyond founder Dan Neuwirth are not disclosed in the available source data.
Clareto firmographics
Firmographics- Name
- Clareto
- Website
- https://clareto.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Clareto provides life insurance carriers with automated electronic health record retrieval and consolidation for underwriting, delivered via the MIB EHR Service through API and portal channels on a usage-based pricing model.
- Ownership category
- akta.pro rank
Clareto industry classification
Industry- Product category
- Insurance Technology (Life Insurance Underwriting Software)
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Services-Health Services (8000)
- akta.pro primary industry
- Clinical Document & Data Exchange (C-CDA, CCD, Direct Messaging) (HLACABAI)
- akta.pro secondary industries
- API Management & Developer Portals for Health Data (HLACABAD), Healthcare Terminology, Ontology & Code Set Management (SNOMED/LOINC/ICD/RxNorm) (HLACAIAF)
Keywords
Where Clareto is headquartered
LocationHeadquarters
- HQ city
- Richmond
- HQ country
- United States
- HQ region
- North America
Markets served
Clareto business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- Medical Records Retrieval Services: Revenue generated from providing electronic medical data retrieval services to life insurance companies. Services include EHR access, RiskRighter summaries, and Medical Data Consolidation. Pricing based on per-record retrieval with cost savings of 50% compared to traditional APS processes.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Per-Record Usage-Based Pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Clareto product offering
Product offeringCore offering
Clareto operates the MIB EHR Service, a software platform that automates medical data retrieval for life insurance underwriting. It provides life insurers with a single consolidated access point to electronic health records (EHRs), health information exchanges (HIEs), and attending physician statement (APS) vendors, and includes reflex workflows, EHR summarization (RiskRighter), and medical data consolidation services to streamline underwriting, risk assessment, and application processing.
Differentiator
Problem solved
Functional benefit
Products and services
- MIB EHR Service
- RiskRighter EHR Summaries
- Medical Data Consolidation
Quantifiable outcome
- 90% faster turnaround time than traditional APS
- +2 more outcomes
Companies that use Clareto
Customer profileSegments1 record
Ideal customer profiles1 record
Clareto technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Clareto partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Munich RecoreStrategic partnership to accelerate adoption of electronic medical data across life insurance underwriting. Focus areas include improving data access and developing advanced data analytics capabilities to enable automated risk assessment. Additional capabilities will be announced as development progresses. Partnership includes joint podcast series 'EHR Insights' and collaborative case studies on EHR value in life insurance.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
Clareto competitors and assessment
Company assessmentDirect peers
- ExamOne: A Quest Diagnostics subsidiary and one of the largest providers of paramedical exams, laboratory testing, and APS retrieval services for life insurance underwriting. Directly competes with Clareto on the medical-records retrieval workflow that life insurers use to underwrite policies.
- EMSI (Examination Management Services Inc.): Provides paramedical examinations, inspections, and medical record retrieval (including APS) for life and health insurance underwriting. Overlaps with Clareto on the APS / medical evidence side of the underwriting data supply chain.
Broad incumbents
- Verisk: Insurance-focused data analytics and data-as-a-service provider whose Life Insurance solutions support underwriting, claims, and fraud detection. Comparable as an incumbent data platform serving life carriers with adjacent evidence-based underwriting offerings.
- LexisNexis Risk Solutions: Provides insurance data, analytics, and identity/fraud-risk data used in life insurance underwriting and claims. Comparable as a large-scale data aggregator serving life and P&C carriers, with overlapping ambitions in evidence-based underwriting.
- Milliman: Global actuarial and consulting firm whose Milliman IntelliScript product delivers pharmacy and MIB data analytics for life insurance underwriting and fraud detection. Comparable as an established data-and-analytics provider to life insurers, though broader than EHR retrieval.
Others
- MIB Group: Industry-owned data services organization for the life insurance industry, owner of the MIB EHR Service through which Clareto operates. Comparable as the distribution and brand partner that brings century-old underwriting expertise and carrier relationships to Clareto's EHR capability.
- Health Catalyst: Healthcare data and analytics platform whose Health Catalyst Capital venture arm invested in Clareto in 2019. Thematically adjacent as a healthcare data platform investor and ecosystem participant, with partial overlap on health data infrastructure.
Emerging players
- Health Gorilla: Clinical data exchange and interoperability platform providing EHR aggregation, FHIR APIs, and record retrieval for digital health, payers, and providers. Comparable as an EHR-aggregator with overlapping technical approach (clinical document exchange, API access).
- Particle Health: API-based clinical data exchange platform aggregating EHR data on behalf of digital health, payer, and life sciences customers. Comparable as an emerging health data aggregator with API-first delivery, similar to Clareto's system-to-system model.
- 1upHealth: Healthcare data interoperability platform offering a FHIR-based API for patient-mediated EHR access and aggregation across providers and HIEs. Comparable as an emerging EHR-aggregator pursuing payer and digital-health customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Clareto social profiles
Digital presenceClareto financial estimates
Financial estimateRevenue estimate
Valuation estimate
Clareto leadership team
Management profileNumber of profiles
Profiles1 record
Clareto funding detail
Funding detailFunding overview
Funding rounds1 record
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Clareto M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Clareto
What does Clareto do?
Clareto operates the MIB EHR Service, a software platform that automates medical data retrieval for life insurance underwriting. It provides life insurers with a single consolidated access point to electronic health records (EHRs), health information exchanges (HIEs), and attending physician statement (APS) vendors, and includes reflex workflows, EHR summarization (RiskRighter), and medical data consolidation services to streamline underwriting, risk assessment, and application processing.
Is Clareto a public or private company?
Clareto is a private company. It is classified as venture growth investor backed and is currently operating.
When was Clareto founded?
Clareto was founded in 2016. It employs 11 to 50 people.
Where is Clareto based?
Clareto is headquartered in Richmond, United States, in the North America region.
How does Clareto make money?
One revenue line is on record: medical Records Retrieval Services.
Who are Clareto's main competitors?
Direct peers on record are ExamOne and EMSI (Examination Management Services Inc.). Broad incumbents are Verisk, LexisNexis Risk Solutions and Milliman. Others are MIB Group and Health Catalyst. Emerging players are Health Gorilla, Particle Health and 1upHealth.
Does Clareto have an API?
No public API is recorded for Clareto.
What industry is Clareto in?
Clareto's product category is Insurance Technology (Life Insurance Underwriting Software). Its primary akta.pro industry code is HLACABAI, Clinical Document & Data Exchange (C-CDA, CCD, Direct Messaging), with a secondary code of HLACABAD, API Management & Developer Portals for Health Data. Its NAICS code is 524292 and its SIC code is 8000.