MIB Cross Check

Cross Check

A Clear Match for Unclaimed Property Compliance

Accurate identification of deceased policyholders is a critical first step toward streamlining an insurer's search for beneficiaries in its efforts to comply with unclaimed property obligations.

Mortality identification is a complex and tedious task. Inconsistent data, typos, transposed alpha and numeric records, nicknames and insufficient data sources all can easily flaw results. In the end it’s about balance–over–inclusive matching unnecessarily extends your due diligence, while missing records may result in fines and penalties.

MIB Cross Check's dual-match methodology solves these issues, teaming the life insurance industry's most effective name matching technology from MIB, together with "fuzzy-logic" comparisons on Social Security Number (SSN), date of birth and other fields. Cross Check's methods and technologies ensure a low false positive rate, providing an accurate mortality match to help meet regulatory requirements and demonstrate to regulators that your company has made all reasonable efforts to identify deceased policyholders.

A More Comprehensive Data Source

And now, Cross Check v.3.0 takes the Social Security Death Master File (DMF) and adds a new resource that includes death notices from over 3,000 public and private sources (ODS). MIB analysis shows the ODS database adds 30% more unique death notices beyond the DMF as well as providing additional match fields that improve results accuracy. In addition, Cross Check's new user interface is name centric, increasing the accuracy and efficiency when applying rules-based filters to the results data.

  • Dual-match methodology provides sharp identification of deceased policyholders both with and without SSN.

  • Sophisticated business rules filter results by match quality.

  • Side-by-side field match comparisons at the policy level let you assess match quality to establish thresholds for further due diligence.

  • Termination flags for policyholders who predeceased policy effective dates or died after policy cancellation dates.

  • Screens death notices from comprehensive sources: DMF and ODS databases. ODS data may contain vital clues for beneficiary location.

  • Excludes previously reported match records from future submissions.

MIB Cross Check is provided by MIB Solutions, Inc., a subsidiary of the MIB Group, Inc.

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