MIB Total Line Service℠

Without the ability to independently verify applicant coverage data, carriers can be exposed to errors and omissions (intentional or unintentional) and potential fraudulent behavior that can be costly. The MIB Total Line Service provides a robust picture of insurance exposure on an applicant, either at the time of underwriting or retrospectively, to help you proactively identify and manage these risks.

Empowering MIB members with total coverage exposure data

The Total Line Service provides insights for face amounts large and small into an individual applicant’s total coverage amount including:

• In force policy data
• Pending application policy data
• Terminated policy data*

The service also provides a variety of other policy information, including product type, issue type, type of termination and more that can be clues indicating possible anti-selective behavior.

Flexible options, based on your needs

The MIB Total Line Service supports a variety of different carrier and reinsurer needs and interests. Delivered your way, the alerts can be integrated into the underwriting process or provided retrospectively, or both!

1) Alerts delivered at the time of underwriting
A critical step for financial underwriting is assessing an applicant’s total insurance exposure. The Total Line Service Alerts are delivered during the underwriting process to enable underwriters to verify an applicant’s reported coverage levels and proactively identify patterns and behaviors that may warrant further investigation (such as signs of potential stacking and requirement avoidance). This safeguards underwriters from over-insuring applicants and helps prevent adverse selection prior to a policy being issued.

2) Quarterly retrospective reports
MIB can also provide data in a quarterly report format, which includes all the same data that is in the Alert but delivered retrospectively. This format supports post-issue audits, retrospective monitoring of field behavior and non-disclosure, and can provide actuarial, audit, claims and/or risk management teams with the ability to glean valuable insights unique to their company’s products, process, distribution, and perceived risk.

Regardless of which option you choose, with minimal to no IT lift required and simple contracting, it’s an easy process to adopt the MIB Total Line Service and gain access to the valuable data it provides.

One-of-a-kind innovation, from partners you know and trust

Together with TAI, MIB has developed this service as part of the MIB In Force Data Solution portfolio. The service leverages the only data solution in the industry providing insight into both in force and pending application activity. Our contributory database owned, managed and secured by MIB contains:

• Pending applications from the MIB Insurance Activity Index (IAI) – Representing nearly 100% of pending life insurance applications, provides an industry-wide view of application activity for the past 2 years in near real-time.
• In force data from TAI - The market leader in reinsurance software and consulting services, contributes reports on 74% of all in force policies in the U.S. through a monthly feed.

*Terminated policy data may include any policy that was approved and/or put in force that was either not taken, converted or is no longer being funded.