November 5, 2019

MIB, the life insurance industry's most trusted and secure resource for the exchange of life insurance underwriting information, today announced an agreement with Verisk (Nasdaq:VRSK), a leading data analytics provider, to make Verisk's MVR Indicator available to MIB's 400 life insurance members at special pricing.

The MVR Indicator¹ identifies which applicants have driving violations, helping insurers prioritize their ordering of motor vehicle reports. By providing this driving history information through its platform, MIB is arming the life industry with critical tools that can help accelerate underwriting, improve the customer experience, and drive successful growth.

"The MVR Indicator is an important step toward reducing underwriting expenses, eliminating 'empty' MVR reports that do nothing but add needless expense," said Lee Oliphant, MIB President and CEO. "MIB has long been known for protecting the financial integrity of our members. This Verisk service aligns with our mission, enabling our members to put the cost savings directly to their bottom line."

"Driving history can be an important indicator of mortality risk, but its value comes with a significant impact on insurers' underwriting expenses," said Maroun Mourad, President of Commercial Lines at ISO, a Verisk business. "Verisk's partnership with MIB will streamline the life market's access to this crucial information while helping keep costs in check."

MVR Indicator is the third in a series of ancillary services MIB has added to its underwriting services portfolio this past year, helping member life insurers improve fraud detection and reduce costs in their underwriting workflow.

¹The MVR Indicator is provided through MIB, Inc. to MIB member insurers by the Insurance Information Exchange unit (iiX) of ISO Claims Services, Inc., a Verisk business.