Insurance Services & Beneficiary Location
Locate Beneficiaries & Reconnect with Policy & Contract Owners
State audits of insurance companies and the rapidly evolving unclaimed property landscape are creating challenges for insurers. These state insurance regulations require additional scrutiny of policyholder records and the proactive identification of decedents.
To prevent policyholder assets from becoming unclaimed property, insurers must develop a new operational capacity to proactively locate missing beneficiaries, then communicate with and facilitate the claims process. Keane is the undisputed industry leader, offering specialized claims assistance and beneficiary location to the insurance and annuities industry.
Keane provides customized and personalized outsourcing solutions that significantly increase insurers’ capacity to assist owners and beneficiaries. The bottom line: we help insurers maximize the return of account benefits and minimize the number of accounts and policy proceeds that must be reported to states as unclaimed insurance policies and assets.
Customized Beneficiary Claims Assistance Programs
Keane’s team offers the specialized research and legal resources required to proactively identify and locate beneficiaries and assist them through the claims process. As each insurer has their own unique claims process and operational requirements, no two Keane programs are the same. Each is custom developed and tailored to meet the specific needs of our clients.
Unless otherwise directed, our #1 goal is to minimize account escheatment through beneficiary location, effective communication, and urging them to take action. That’s why Keane is the #1 choice in the financial services industry and why we’ve been able to successfully assist hundreds of thousands of estate representatives, heirs, and insurance beneficiaries over the years.
While insurance beneficiary location programs are tailored to fit each client’s needs, every program follows Keane’s best-practice methodology to minimize the escheatment of unclaimed insurance benefits and annuities. This approach can include:
- Securely receiving data through our proprietary information portal
- Conducting data analysis to identify missing data or historical inaccuracies
- Comparing the account data in the Social Security Administration Death Master File (DMF) to identify deceased owners.
- Tracing missing beneficiaries, heirs, and other related parties via manual research across our unique array of data resources.
- Customizing mail and/or telephone-based outreach and communication programs
- Reporting detailed statistics and results regarding program performance.
Protect Customers, Reduce Expenses
Keane is the insurance industry’s only comprehensive provider of unclaimed property services. Our unmatched success at finding and locating beneficiaries, heirs, and lost owners and our #1 rated customer service team are among the reasons why we are the most selected unclaimed property service provider in the financial services world.
We have successfully reconnected over one million individuals with more than $8.5 billion in assets, through communication programs that locate, update, and revitalize lost or dormant accounts before they must be reported to the states as unclaimed insurance money or assets.
In the process, we help reduce many of the administrative costs related to search, due diligence mailing, and unclaimed property reporting processes. Essentially, we help you keep more accounts and more assets under management — which ultimately translates to increased revenue and cross-selling opportunities.
Questions on insurance beneficiary location services or escheat compliance solutions? Call us today at 800-848-8896 to speak with an unclaimed property specialist or send us an email at [email protected].
Learn more about Insurance Audits and Best Practices