MIB, Inc. Saves Money for Insurance Corporations

How effective is the MIB, Inc. suite of product in saving money for its corporate clients? The MIB, Inc. marketing materials offer the following description:

“Life Insurers Save Over $46 Dollars for Every Dollar They Invest with MIB
That’s the return life companies receive from MIB’s protective value as documented by Milliman, Inc. (www.milliman.com), a leading global actuarial consulting firm. The MIB Checking Service creates transparency for North American life, health, disability, critical illness and LTC underwriters so they can better understand the health of their applicants. Every policyholder pays for errors, misstatements, omissions and fraud on insurance applications — items that cause underwriters to improperly assess risk. MIB reports provide underwriters with confidential, brief coded medical resumes to compare against insurance medical questionnaires, and in this way provide an “alert” for further investigation. MIB saves the industry over a billion dollars annually and keeps the cost of insurance affordable for honest protection seeking consumers.

A Protective Value Study of the MIB Inquiry Service
Richard L. Bergstrom, FSA, MAAA, Consulting Actuary, Milliman & Robertson, Inc. and Stephen A. Freitas, Senior Developer, MIB, Solutions, Inc., December 1999

Executive Summary
A protective value study of the MIB Inquiry Service was performed by examining applications for life insurance from one representative company over a period of one month. Protective value exists whenever the estimated mortality savings of using the MIB Inquiry Service exceeds the cost of the service. ‘Savings’ is a function of excess impaired mortality, amount applied for, impairment prevalence, test sensitivity, and exclusivity factor of the MIB information.

The year-to-year savings was calculated in today’s dollars by discounting future excess mortality at 8%, and taking into account reasonable anticipated lapse rates of the policies over time. Conservative assumptions were made in calculating the present value of savings. This was done to reduce any potential “favorable” bias in the savings element. Overall, for all cases examined, the present value of savings was $0.18 per thousand, which yielded a savings-to-cost ratio of $46:1 for the portfolio reviewed.

History of the Medical Information Bureau
Concerned with the undisclosed risk posed by fraudulent applicants, 15 Medical Directors organized in 1890 to ensure the livelihood of their businesses, the solvency of the insurance industry, and the fair and equitable pricing of policies. That organization would become MIB. These MIB member companies quickly realized that they already possessed the best resources for determining the accuracy of applicants’ health – their current and former applications. Agreeing to share and analyze this information afforded valuable insights into the true risks they were carrying. More than a century later, this integral information exchange is still at work protecting the life, health and disability income insurance industries.

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More about MIB, Inc.’s Technology Services

What technology products does MIB, Inc. offer its corporate member companies? The MIB, Inc. marketing materials offer the following descriptions for the MIB Productivity Suite and MIB Outsource Services – Alpha-Index Processing Service:

Productivity Suite
Intuitive tools for maximizing the MIB Checking Service

Our Productivity Suite is a collection of WEB-based and software based tools that make using the MIB Checking Service easier and more efficient. The suite features an electronic version of the MIB Coding Manual; point and click MIB Code translation for WEB-TERM; a WEB-based, standalone MIB Code translator; and a complete set of MIB Code Tables. MIB Code Tables let your technology team easily build MIB Code editing, translation and reporting processes into your underwriting system.

No matter what type of MIB connectivity you use, the MIB Productivity Suite improves underwriting efficiency when decoding or reporting MIB Codes. Benefits include faster translation of MIB Codes, instant access to the MIB Coding Manual, improved coding selection and a faster learning curve for new underwriters. (more…)

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MIB keeps a Disability Insurance Record System

What is the MIB, Inc. product called the “Disability Insurance Record System (DIRS)”?  The MIB, Inc. marketing materials offer the following description of the “Disability Insurance Record System (DIRS),” an electronic information product to exchange consumer information among insurance and healthcare corporations:

“Disability Insurance Record System (DIRS) – A more complete picture
Underwriting disability income business from a medical standpoint is hard enough. Determining if you are over-insuring an applicant is even harder. Additionally, over-insured applicants are more likely to file a claim! That’s why companies who want to Issue with Confidence use MIB, Inc.’s Disability Insurance Record Service (DIRS).

DIRS is an industry-shared five year database of application history that tracks “applied for” and “in-force” coverage.  Based on an application, members search the DIRS Database for prior activity as an “alert” to potential over-insurance. At the same time, they add the amount of coverage “applied for” and the amount admitted as “in-force” to the DIRS database. A “follow-up” feature alerts members to new information added to the DIRS database for six months following the original search.

Know More
All underwriters are aware of the risk inherent with over-insurance and its potential hazards especially within the disability income insurance market. DIRS provides underwriters a more complete picture of an applicant’s coverage profile.

A DIRS report details the amount other disability income insurers are currently underwriting or have issued on an applicant. Each report includes the reporting insurer, application dates, amounts of coverage applied for and amounts admitted to be in force.

Proven Results
With a “find ratio” of nearly 25%, and a thirty year record of helping deter speculative purchases of disability income insurance, over-insurance, and fraud, there can be no question of the value of DIRS in the underwriting process.

Easy to integrate with your workflow, DIRS searches and updates are handled in one simple step for greater efficiency. A follow-up feature reports any new application activity an applicant engages in within six months following the initial search. The DIRS report also identifies which companies reported activity with an applicant, enabling direct communication between insurers and a quick resolution on issuing. For large volume customers, automated integration with your underwriting system is available using the ACORD TxLife data standard.

Issue with Confidence – DIRS & MIB Checking Service
Virtually all DIRS members use DIRS in conjunction with the Checking Service, MIB, Inc.’s flagship fraud detection service. Together they can expose an applicant’s “lack of candor”, whether due to forgetfulness or willful omission, from both the over insurance and medical perspective, allowing you to “Issue with Confidence”!

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Insurance Group Identifies Frequent Shoppers

What is the MIB, Inc. product called the “Insurance Activity Index”?  The MIB, Inc. marketing materials offer the following description of the “Insurance Activity Index,” an electronic information product to exchange consumer information among insurance and healthcare corporations:

Insurance Activity Index – Identifying frequent shoppers

If left unchecked, applicants who “stack” or “churn” policies by applying for insurance with multiple companies can fly below radar and erode the most financially sound company’s book. But the IAI enables MIB Members to track the number of times an MIB check was requested on an applicant in the two previous years. This snapshot of recent application activity helps identify applicants who might be attempting to conceal medical conditions that could affect their insurability by taking multiple, low face value policies that are not medically underwritten to obtain the desired level of coverage.”

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“F” Stands for Follow-Up: MIB PLAN F

What is the “Follow-Up Service (Plan F)”? The MIB, Inc. marketing materials offer the following description of the “Follow-Up Service (Plan F),” an electronic information product to exchange consumer information among insurance and healthcare corporations:

“Follow-Up Service – Casting a larger net

Some opportunities are too good to pass up, which is why the Follow-Up Service (Plan F) is an insurer’s primary source of post-underwriting information. The MIB Follow-Up Service provides the ability to uncover misrepresentation during the contestable period. For the two years following the original MIB inquiry, this service continues to alert Members to a policyholder’s medical and other conditions of underwriting significance that may have been undisclosed at the time of the original application. This includes a screen of OFAC/OSFI which provides a follow-up for two years if a new name appears that is a “hit” from a previously checked name. And for those who prefer to receive only those codes that may have significance in conjunction with rescissions, we offer a customizable filter for that purpose.”

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MIB Checking Service – Issue with Confidence

What is the “MIB Checking Service”? The MIB, Inc. marketing materials offer the following description of the “MIB Checking Service,” an electronic information product to exchange consumer information among insurance and healthcare corporations:

“MIB Checking Service – Issue with Confidence”

The MIB Checking Service is the flagship service offered by MIB. Through this service, MIB provides for the exchange of confidential, coded underwriting information among its members. Members use the MIB Checking Service to compare an individual applicant’s information against information in the MIB database. This exchange of information helps members to detect and deter fraud by applicants who omit or seek to conceal facts that are essential to the underwriting process.

The MIB Checking Service makes it possible to exchange information quickly, efficiently, and inexpensively.


About MIB Group

MIB Group, Inc. (“MIB”) is a membership corporation owned by approximately 470 member insurance companies in the US and Canada. Organized in 1902, MIB’s core fraud protection services protect insurers, policyholders and applicants from attempts to conceal or omit information material to the sound and equitable underwriting of life, health, disability income, critical illness and long-term care insurance. (more…)

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What is the “MIB WEB-TERM”? The MIB, Inc. marketing materials offer the following description of the “MIB WEB-TERM,” an electronic information product to exchange consumer information among insurance and healthcare corporations:

“WEB-TERM (Secure, browser-based access to services)
WEB-TERM offers full featured Internet connectivity to MIB data services on a single-record basis via a web browser from any Internet connected PC. WEB-TERM is accessible through KnowledgeNow, MIB’s secure Business-to-Business Internet site.

WEB-TERM offers rich navigation, drop down menus, and auto fill fields, increasing data entry speed and accuracy.
Available services include:

  • MIB Checking Service – inquiries/replies, updates, and changes
  • Insurance Activity Index (IAI)
  • Request for Details
  • Disability Insurance Record Service (DIRS) inquiries with/without capture data
  • Alpha Index Service (ALPS) inquiries with/without capture data and updates
  • MIB Business Reports – Follow-ups, Request for details, error reports and recap reports
  • WEB-TERM New User Registration
  • WEB-TERM System Requirements

Features and Benefits

  • Security Model
  • Secure Socket Layer (SSL) 128-bit encryption
  • Digital certificate authentication (PKI technology)
  • Easier network integration through Internet protocols
  • Improved availability and performance of systems and communications
  • Improved data semantics enhanced search accuracy”
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MIB Knowledge Now

MIB KnowledgeNow is located at https://www.knowledgenow.com, but your browser cannot go there. (Please do not try.)

What is “MIB, Inc.’s KnowledgeNow” product?

“KnowledgeNow is a subscribers-only website, provided by MIB, Inc. an MIB Group company, for the use and exchange of insurance industry information. Access to KnowledgeNow is provided upon issuance of a valid authenticating certificate from MIB’s designated certificate authority.

KnowledgeNow Registration

As the representative of an MIB Member Company requesting full access to KnowledgeNow, including WEB-enabled Products and Services, you are required to assume certain administrative responsibilities. In assuming these responsibilities, you assist in supporting the secure exchange of confidential information over the Internet. Only one administrator is required for each participating Member Company. Responsibilities are: (more…)

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MIB Access

MIB Access welcomes you to MIB:

“Welcome to MIB!

MIB is a members-only fraud prevention and deterrent organization that has served the life, health, and disability insurance industry for nearly 100 years.

In 1902, the medical directors of 15 insurance companies joined in a cooperative effort to provide a confidential exchange of underwriting information. Their mission was to alert one another to the possibility of fraud or misrepresentation. Each recognized the impact that fraud, misrepresentation, or omission of vital information could have. They felt it was wrong to charge honest applicants higher premiums because of the dishonesty or deception of a few. By taking this initiative MIB was born, thus protecting the honest consumer!

MIB has grown from its original 15 members to more than 500 member companies, including virtually every major company issuing life, health and disability insurance in the United States and Canada. Located in Braintree, Massachusetts, MIB is now the leading information services company for the North American life insurance industry.

Find out more at www.mib.com.”

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MIB, Inc. Offers ALL to Corporations and NONE to Consumers

What services and products does the MIB, Inc. provide for its corporation membership of insurance and healthcare companies? The MIB, Inc. marketing materials offer the following description “MIB, Inc. Training and Support:”

MIB provides training and support to member companies including:

  • Training for new member companies
  • Advanced training for existing members
  • Advice on MIB coding questions
  • Connectivity and System integration support
  • Guidance on Rules and Bylaws interpretations
  • Toll free number for the MIB Help Desk”

What do paid corporate subscribers say about the technology services and products MIB, Inc. provides for its corporation membership of insurance and healthcare companies? The MIB, Inc. marketing materials offer the following description:


“I cannot do business without MIB – it is an irreplaceable source of anti-selection criteria.” VP, Life Underwriting

“MIB always finds something that hasn’t been disclosed.” VP, Individual Medical Underwriting

“We save $58 for every dollar we spend on MIB.” Assistant VP, Underwriting

“With MIB our rescission rate is less than one percent because we catch problem applications at the front end.” Chief Underwriter, Health Insurance

“It is a ‘must-have’ to protect yourself against fraud.” Senior Underwriter “

So, what types of technology services and products does MIB, Inc. provide for paying consumers of insurance and healthcare products? The MIB, Inc. marketing materials offer the following description:

As a secure repository of the personal and private health information for millions of insurance applicants, MIB protects both consumers and the insurance industry. Our role as a trusted guardian extends to servicing consumers’ requests for reinvestigations and amendments.

Through an easy to use, streamlined [telephone] process, consumers may request their MIB records one time per year, free of charge. [No online access is offered.]” (more…)

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MIB, Inc. Corporate Connectivity Solutions

What are the “MIB, Inc. Corporate Connectivity Solutions”? The MIB, Inc. marketing materials offer the following description of the “MIB, Inc. Corporate Connectivity Solutions,” types of electronic information product to exchange consumer information among insurance and healthcare corporations:

“MIB, Inc. Connectivity & Integration – Information Where and When You Need It

Information is most valuable when it is an integral part of your core business processes. MIB offers a variety of connectivity options and productivity tools to give you access to our services when and where you need it. Whether you need to simply provide underwriters direct access to MIB Services or fully integrate our Services into your automated underwriting systems, MIB has a solution.

Connectivity Solutions
Our WEB Enabled Business Solutions deliver rapid, Internet-based access to MIB services that meet even the most stringent security requirements. (Browser-based access)

  • WEB-TERM supports the entire range of MIB Services and offers a simple navigation interface, drop down menus and auto-fill fields for fast and accurate data entry. WEB-TERM is accessible through KnowledgeNow, our secure extranet. (ACORD compliant, system-to-system access)
  • WEB-DIRECT allows you to integrate MIB Services into your underwriting system. WEB-DIRECT combines standard HTTP Internet protocols with the ACORD TxLife Data Standard allowing you to build your MIB interface from virtually anywhere. (LAN system-to-system)
  • MIB-LINK/Plus V3 also allows you to integrate MIB Services into your underwriting system but does not support the industry standard ACORD TxLife Data Standard. MLP/V3 uses proprietary data formats and requires the popular Windows Server operating system. MIB offers a variety of connectivity solutions to address the myriad of platforms operating throughout the industry. We also work directly with new business and underwriting system software vendors to ensure their systems support the full range of MIB Services. Before you buy, ask your vendor about their MIB support.”

Have you viewed your annual medical report recently? The Medical Information Bureau, a/k/a MIB Group, Inc., does not offer consumers a secure system online to request, review, and dispute information in their consumer “medical report” file. All consumers are entitled to a free annual medical report under the Fair Credit Reporting Act. Consumers wishing to request their annual medical report must call the Medical Information Bureau’s phone number at 1-866-692-6901 on Monday through Friday, from 8:00 AM to 5:00 PM (Eastern Time). The Medical Information Bureau’s phone number at 1-866-692-6901 is CLOSED ON SATURDAY, SUNDAY, AND FEDERAL HOLIDAYS)

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MIB Inc.’s Slogan

The marketing slogan of MIB, Inc. is:

“Where the insurance industry shares its intelligence.  MIB, Inc. – Issue With Confidence”

The “corporate mission” of MIB, Inc. is:

MIB, Inc. is the premiere provider of fraud detection information for individually underwritten life, disability income, long term care and critical illness insurance.  MIB member companies rely on its Checking Service™ for the fast, secure aggregation and exchange of data to combat fraud, improve underwriting effectiveness and increase product line profitability while ensuring fair pricing for all applicants.”

Source: MIB, Inc. Marketing Materials.

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Attention Consumers: Request Your Annual Medical Report

Are you aware the insurance/ healthcare industry keeps a centralized repository of medical and non-medical data that contains information about you?

Most consumers would never apply for a mortgage, credit card, or any financial service product without first checking a copy of their Credit Report. However, millions of consumers apply for products such as life insurance, long-term care insurance, disability income insurance, and annuities without first viewing and verifying the information in their Medical Report.

Unfortunately, the Medical Information Bureau (a/k/a, MIB Group, Inc., a/k/a, MIB, Inc., a/k/a, MIB Solutions, Inc.) is a completely unknown entity among consumers, despite holding the title of “the largest insurance reporting agency in the world.” Founded in 1902, the Medical Information Bureau is a business trade group that exists to serve its membership of more than 750 insurance and health-care companies.

According to the Federal Trade Commission, the Medical Information Bureau member companies account for 99 percent of the individual life insurance policies and 80 percent of all health and disability policies issued in the United States and Canada. To benefit its corporate membership, the Medical Information Bureau collects and furnishes information on consumers to insurance and health-care companies for use in the insurance underwriting process. In addition to an individual’s credit history, data collected by Medical Information Bureau may include medical conditions, driving records, criminal activity, and participation in hazardous sports, among other facts.

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Free Print or Download – MIB Request Form for Annual Disclosure

Thanks for your interest in the Medical Information Bureau (MIB, Inc.). Please click here to download or print a free sample MIB Request Form (PDF link).

With this form, you can request a copy of your report file from the MIB, Inc. (Medical Information Bureau). Instructions are included. (Read here for more information about the MIB, Inc.)

You can also make your free annual request by calling the Medical Information Bureau (MIB) toll-free at 1-866-692-6901. As a nationwide specialty consumer reporting agency, MIB Inc. “must provide a toll-free number that is published in every telephone directory in which a number for the company appears, and is clearly and prominently posted on the company’s website.”

The Medical Information Bureau, Inc. (MIB), a Delaware corporation, is the world’s largest insurance reporting agency and represents approximately 500 member insurance companies.  “The Medical Information Bureau (a/k/a, MIB Group, Inc., a/k/a, MIB, Inc., a/k/a, MIB Solutions, Inc.) collects and furnishes information on consumers to all Medical Information Bureau (MIB) member corporations for use in the insurance underwriting process.”

In addition to an individual’s credit history, data collected by the Medical Information Bureau (MIB) may include “medical conditions, driving records, criminal activity, drug use, participation in hazardous sports, and personal or family genetic history, among other facts.”  Under Federal law, the Medical Information Bureau (MIB) is a “consumer-reporting agency” and is required by law to provide a medical report to consumers every 12 months.

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