Would you rather pay beneficiaries or escheat those monies to the individual states? We believe the insurance companies would rather pay their beneficiaries and create an opportunity to retain those assets and replaced a deceased client with a new client. Notification Engine and asset retention model for beneficiaries accomplishes this goal.
Ongoing Review of Deaths
We utilize the social security death master file along with other sources of information to create a more accurate death list.
Death Master File is validated.
This list is integrated with our artificial intelligence (A.I.) rules engine to determine accuracy and if a notification needs to be made to a beneficiary.
Beneficiaries are Notified
If a notification needs to be made, we offer a dashboard that allows an employee to communicate with beneficiaries in many different ways. The employee can track which method of communication is best for connecting with the beneficiaries. This allows the company to comply with the good faith effort of finding and notifying beneficiaries of a claim that needs to be made. This could be the first opportunity to create a relationship that allows your customer service representatives or financial advisors to retain assets.
Want a demo?
If you have any questions or need a free demo, please contact us!