MIB Total Line Service℠ Case Studies
As part of our rollout of the new Total Line Alerts, MIB has completed an analysis of data captured from our data vault, which contains in force and terminated policy data as well as pending insurance activity. It has shed some interesting light on our member’s potential exposure to behavioral risks, such as lapse, stacking and/or churning.
Each case study is based on REAL data from one of our members. Could any of these be your company?
Armed with Alerts from the MIB Total Line Service, your underwriters can have the information they need to validate total coverage exposure and proactively identify patterns and behaviors that may warrant further investigation.
In our first case study, the Total Line Alert includes evidence of several terminated policies. Could this be an example of potential lapse or churning risk?
The below graphic summarizes the case study. View the full case study to see the actual Total Line Alert.
In our second case study, the Total Line Alert revealed three policies already in force as well as 3 pending applications, all across different carriers. Could this be stacking or churning risk?
The below graphic summarizes the case study. View the full case study to see the actual Total Line Alert.
The Total Line Alert in this case study revealed three, $2 million dollar policies were issued over three consecutive years, each of which has lapsed. This 71-year-old applied to a fourth company for $4M in August and then to a fifth company for $2M in October. This raises several questions that may require further investigation.
The below graphic summarizes the case study. View the full case study to get more details, including seeing the actual Total Line Alert.
In this case study, an application was received for $200K in Term Life coverage. The analysis revealed another pending application of $200K, as well as three in force policies adding up to an additional $380K of coverage - all for Term Life policies across different carriers. Could this be stacking?
The below graphic summarizes the case study. View the full case study to see the actual Total Line Alert.
Find out how we can help you empower your underwriters with total coverage exposure data.
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