A Medical Information Bureau (MIB) report is used to:

The Medical Information Bureau (MIB) serves a critical role in the life insurance industry by preventing adverse selection, which occurs when individuals with higher risks are more likely to seek out insurance coverage. The MIB maintains a database that contains coded underwriting information about an individual's health history. When an application for insurance is submitted, underwriters can access this database to obtain relevant medical information that may not be fully disclosed by the applicant.

This sharing of coded information allows insurers to make more informed decisions regarding the risk involved with insuring a particular individual. By helping to identify potential health issues that may increase the likelihood of a claim, the MIB plays a significant role in ensuring that insurance applicants are assessed fairly and accurately, thereby reducing the risk of adverse selection in the insurance market. This underscores the importance of the MIB's function in supporting insurer profitability and sustainability.