UPCR Insurance Industry Solutions
As more states continue to adopt the NCOIL model act relating to comparing life insurance policies, annuity contracts and retained asset accounts to the Social Security Death Master File (DMF) many companies have found it quite burdensome to keep up with the demands of these new regulations internally. UPCR has developed both a DMF matching solution as well as a match tracking solution to provide companies with the ability to meet these requirements not only for statutory purposes but for MCE’s and death claim audits as well.
SSDMF Match and Tracking Solution
UPCR understands that many companies may not have the time and/or resources to accomplish the onerous task of developing a DMF matching program. We have developed and implemented a solution to the DMF matching requirement by creating the ability to match a company’s policies and contracts to the most current DMF file available and deliver the results of exact and/or fuzzy matches for review. Our solution analyzes all the variations of a match using exact and fuzzy matching criteria established via publically available documents. The results can be grouped by category, provide a side-by-side comparison of the company and DMF fields, show whether the match was derived from an exact or fuzzy match and if applicable, identify the fuzzy criteria, aiding in the efficient review of matches that are presented. UPCR’s DMF match solution is fully customizable which means that we can make necessary changes in the match methodology to conform to a particular state’s unique matching and/or reporting requirements as well as a company’s unique data or requirements. In addition to producing the potential matches, UPCR can provide reporting and analysis that can assist in determining the potential impact that these matches may have on your company.