NU Online News Service, Aug. 21, 2003, 2:53 p.m. EDT – MIB Group Inc., Westwood, Mass., has introduced the MIB Trend Tracker, a service that compares an insurance company’s monthly life insurance application activity with industrywide activity and the activity of direct competitors.
MIB is a nonprofit group that collects information about individual life insurance customers for most U.S. and Canadian life and health insurance companies.
Insurers search MIB databases to determine whether applicants might be hiding information about health problems.
In recent years, MIB has been using search volume activity for its databases as an indicator for overall U.S. and Canadian life insurance sales activity.
MIB says it will deliver the results for the new Trend Tracker service a few days after each month ends.
The Trend Tracker reports will exclude personal information and protect applicant privacy, MIB says.