Our case study series provides a view Alerts that will be used by members who contribute to the database and participate in the MIB Total Line Service to gain insights into in force, pending and terminated application data. By leveraging REAL data from one of our members, the case studies demonstrate how the Total Line Service provides unique insights into total coverage exposure and various aspects of potential behavioral risk.
In the fifth case study in our series, the Total Line Alert reveals both total coverage exposure risk and potential behavioral risk.
A 67-year-old male submitted three applications to three companies in early May 2023.
In 2022, he placed TWO TERM policies in force, with two different companies for:
This activity leads to 2 questions:
The terminated policy data reveals additional risk:
Factoring in the terminated policy data, new questions emerge:
Below is a copy of the full Total Line Alert for this case study (You can also view an expandable version of this Total Line Alert).
If you haven’t yet signed up for the MIB Total Line Service, how would your company become aware of this type of activity? With the information provided on Alerts underwriters can confirm the total line of coverage being pursued. Increasing awareness of current and historical insurance activity, they are empowered to ask targeted questions and take action to prevent anti-selection.
The MIB Total Line Service
The Total Line Service provides alerts, delivered during the underwriting process, that reflect the total amount of in force and pending life insurance coverage for an applicant. In addition, the alerts include a variety of policy information, including any terminated coverage.
Learn more about how you can empower your underwriters with total coverage exposure data with the MIB Total Line Service by visiting: https://www.mibgroup.com/solutions/total-line-service/