MIB Aptivity℠ Service

The MIB Aptivity Service, available in the US and Canada, provides data and analytical insights into market trends and market share, leveraging unique data from the life insurance industry’s trusted contributory database of application activity, as collected by MIB during the underwriting process. The information and insights included give member carriers a complete picture of the life insurance marketplace, aid in competitive benchmarking, and provide visibility into market trends the changing life insurance landscape.

To address the varying needs of the life insurance industry, data and reports are available in multiple formats. Each provide a running 24 months of near real-time data on application volume, with data categories that reveal insights into demographic trends.

Market Share and Peer Grouping Report
Demonstrates U.S. or Canadian market share information by state or province and with zip code drill downs comparing industry wide activity to your company and a peer grouping of your choice. Additional details are available by face amount band, age band and gender. This report is most useful for carriers looking for analytics that summarize data for competitive benchmarking.

Data Extract
For those MIB members with existing data and analytics systems, who prefer a data extract, this option delivers data in a format that can be ingested into your own environment. Our data extract provides de-identified industry level data by MIB inquiry date, with face amount band, age band, gender and zip code detail included.

The data included in this extract helps carriers grow their business by providing the latest trends and demographics to help

• Identify and target new markets, segments and opportunities.
• Understand demand preferences to help optimize sales and distribution strategies.
• Innovate and launch new products that meet the needs and expectations of the changing life insurance landscape.

Impairment Prevalence Report
Under development is an Impairment Prevalence Report providing a lens on trends that may be of significance to underwriting and risk management strategies. The report will provide an industry level view of the top impairments reported to MIB based on volume, including detail on how the participating member company’s reported impairment activity contributed to those results. It will also include insights into impairment trends over the short and long term.

Unique Data Exclusively Available to MIB Members
The MIB Aptivity Services is an exclusive benefit for MIB members who contribute data to MIB Code Solutions℠ and are fully compliant to MIB data requirements. New application activity for the MIB Aptivity Service is based on data coded by MIB member company underwriters to the MIB Checking Service℠, a core part of our Code Solutions portfolio. Since the MIB Checking Service is used to underwrite the vast majority of individually underwritten life insurance policies in the US and Canada (estimated as high as 90 percent), MIB has a unique ability to use this data to estimate application activity and provide the industry with insights into trends over time.

An Overview of the MIB Aptivity Service
Watch our video to see samples of Aptivity reports and get more details on the service.