Who is the primary source of information for the Medical Information Bureau (MIB)?

The primary source of information for the Medical Information Bureau (MIB) is insurers. MIB was established to facilitate the exchange of medical information among insurance companies to help them assess the risk associated with potential policyholders. When individuals apply for life insurance, insurers collect health-related information, including medical history and other relevant data. This information is then submitted to the MIB, where it becomes accessible to other member insurers during the underwriting process.

The role of insurers is crucial because they provide the foundational data that is aggregated and shared within the MIB, ultimately assisting in the evaluation of applicants and helping to prevent insurance fraud. The MIB serves as a central repository to streamline this process for multiple insurers, making it a vital tool in the life insurance industry.