MIB and Underwriting Tip

What is MIB?
MIB is a membership organization that provides underwriting information and services to life and health insurers. The health information that MIB provides is a dissemination of information provided from its members to its members. It is a way for companies to communicate industry wide to reduce fraud which contributes to the equitable pricing of insurance products.

What MIB is not?
MIB is not a clearing house of health data from doctor offices. MIB does not share whether an application was declined.

Underwriting with MIB
Underwriters use MIB data for informational purposes only. Underwriters do not make a decision based on MIB data. If the data provided is of underwriting concern, the proposed insured will be contacted directly to verify the information or medical records may be ordered by the underwriter from the proposed insured’s primary care provider.

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