MIB Group, Inc

(redirected from Medical Information Bureau)
Also found in: Acronyms, Wikipedia.

MIB Group, Inc

Medical Information Bureau Group, Inc. A data-pooling service that stores coded information on the health histories of persons who have applied for insurance from subscribing companies in the past.

Most Life and Health insurers in North America subscribe to this bureau to get more complete underwriting information. Per the US Federal Trade Commission, MIB’s 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.
Segen's Medical Dictionary. © 2012 Farlex, Inc. All rights reserved.
References in periodicals archive ?
The Medical Information Bureau, the central clearinghouse that insurance companies rely on to pool the data you supply whenever you apply for insurance, contains files on millions of Americans.
* An article in the March 19 issue incorrectly indicated that a search of Medical Information Bureau by an insurer would advise the insurer whether previous "apps were declined or highly rated." This is not the case.
The insurance industry's primary data clearinghouse, the Medical Information Bureau (MIB), has procedures for consumers to review and challenge their records.
Friedkin's story is one of several documented by Jeffrey Rothfeder in his new book, "Privacy For Sale." Friedkin was the victim of an input error in a medical database, Medical Information Bureau. MIB collects information from insurance companies and sells it to other companies investigating applicants.
TermNow products allow a representative to take an online application and, with the client's permission, access databases, including prescription drug, Medical Information Bureau and motor vehicle records as part of the underwriting process.
The Medical Information Bureau is one of the best and most cost-effective underwriting tools available to life insurance companies.
In addition to priceless Medical Information Bureau records, American underwriters are uniquely blessed with electronically acquired pharmacy profiles, motor vehicle reports and various genre of public record information.
In terms of STP in underwriting, a majority of carriers have achieved connectivity with the Medical Information Bureau and are imaging their documents electronically, with other elements of underwriting to follow.
Stir in electronically acquired Medical Information Bureau reports, pharmacy profiles, motor vehicle reports and possibly other e-database information, and straight-through engine processing of the vast majority of applications becomes a reality.
LTC insurers are looking to such databases as the Medical Information Bureau and prescription drug third-party administrators to help mitigate these risks.
Full browser ?