October 17, 2006 at 03:45 PM
A unit of an organization that collects insurance consumer information is adding new features to its policy auditing program.
MIB Solutions, an arm of MIB Group Inc., Westwood, Mass., says the new version of its Audit Focus service, which helps insurers use the MIB database to see whether some insureds suffer from impairments to their health.
One new feature will be filters to help company executives identify the highest risk policies, MIB Solutions says.
One new “rule-out” filter will let insurers filter out MIB database impairment codes that appear to have a relatively weak correlation with mortality, and another “rule-in” filter will help insurers sift lists of policyholders applying their own rules for using certain impairment codes.
The new version of the Audit Focus system will include a “portfolio overview” feature that will discuss issues such as a company’s mix of business and prevalence of impairments across the company’s entire book of business.
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