Empowering MIB members with total insurance coverage exposure data

Understanding an applicant's total line of coverage is critical to a swift financial underwriting process. Additionally, understanding policy behavior patterns (in force, terminated and applied for) can reveal hidden risks such as non-disclosure, lapse risk, stacking, churning and more. Examining your data alone cannot effectively reveal these types of risks - they can only be fully understood with a complete industry-wide lens.

Unmatched data set, from partners you know and trust

MIB, in partnership with TAI, has developed the only data solution in the industry that delivers cross-carrier insight into in force, pending application, and terminated policy activity. This unique combination enables carriers to identify potential risks tied to total line coverage, lower their financial risk and identify clues that indicate potential anti-selective patterns that may require further investigation.

The data set includes:

• Pending applications from the MIB Insurance Activity Index (IAI) – The only database of its kind in the industry, providing an industry-wide view of an individual's application activity.
• In force data – Provided by MIB members through TAI software used to cede reinsurers.

Because the In Force Data Vault is built on contributed carrier data, its value grows as industry participation expands – providing a stronger foundation for financial due diligence and fraud detection.

Revealing hidden risks

The MIB In Force Data Solutions portfolio leverages data within the In Force Data Vault to help participating members manage financial and behavioral risk, including the ability to:

• Support financial justification.
• Prevent over-insurance.
• Monitor anti-selection activity.
• Proactively address potential jumbo treaty breaches.
• Strengthen post-issue audits.
• Boost internal analytics.

Immediate Insights with Free Total Line Codes

All members who contribute data to the In Force Data Vault gain access to Total Line codes, which provide underwriters with immediate visibility into the presence of in force and/or terminated policies on an applicant.

Delivered alongside the MIB impairment codes that underwriters have used for more than a century to identify undisclosed medical histories, they provide additional clues to identify undisclosed policies and help flag adverse activity that may require further investigation.