It’s understandable that insurance professionals feel saddled by unclaimed property compliance. It can be riddled with complexities that create an ever-moving target, and if you miss, the cost can make even your largest losses look like child’s play. This is why UPCR’s unclaimed property services work for insurance: we remove the saddle and set you free.
Which Unclaimed Property Services Do You Need?
Powerful Software Designed By Unclaimed Property Compliance Experts
Always up to date on the latest regulations and changes, our proprietary UPNavigator® is an intuitive, web-based application that makes managing the maze of unclaimed property documents, reporting requirements, and analytics easy for insurance professionals.
This is technology with everything you need built in:
- Simplifies real-time reporting and analytics
- Your single source for all things unclaimed property compliance
- Hassle free and cost effective
- Always current on all state laws
- Easy to facilitate and automate the successful submission of state reports – without manual data entry and processes
- Eliminates the worry of fines and penalties associated with non-compliance
- Ensures the rightful owners of any assets you submit to the state are able to reclaim them
Talk to a UPCR compliance expert today about why insurance professionals from across the nation rely on our UPNavigator®.
Unclaimed Property Reporting
Whether you work with life insurance, property and casualty, or both, meeting your company’s reporting requirements accurately and on time is an enormous undertaking – and our UPCR team loves it!
Compliance geeks and proud of it, when you outsource your unclaimed property reporting needs to us, your dedicated team puts a seamless reporting process in place for you that frees you of compliance concerns. What do you need?
- Data gathering, verification and analysis
- Escheatment eligibility
- Due diligence mailings
- State reporting
Our experts thrive in the world of unclaimed property services. The sooner we get to work, the sooner you can get on with the million other things you have to do. Let’s assemble your team now.
Tailored Solutions
Simplify the processing, management, and reporting of unclaimed property with UPCR’s customized approach.
UPNavigator®
Our web-based compliance app is cost-effective and user-friendly so you stay up to date with the latest legislation.
Free Consultation
Take the first step towards achieving your goals by speaking with our experts. No obligations, just insights.
Death Master File Matchings
Redundancies. missing information, inaccurate records – all the challenges, frustrations, and wasted time trying to search for your policyholders on the Death Master File disappear with InSmart™, our DMF match tracking solution and unclaimed property database.
Designed to efficiently track, review and report potential death matches, this web-based SaaS application assists in identifying duplicate matches, research documentation, and much more:
- Avoid redundant reviews by identifying duplicate matches.
- Manage matches in batches for research or management purposes.
- Verify match validity by comparing policy and DMF details.
- Tailor status settings to monitor the review process according to your preferences.
- Generate or export match lists easily with filtering options.
- Access summary data through ad-hoc administration reporting.
- Provide proof of remediation by uploading policy documentation files.
- Report matches to audit firms using built-in extract features.
It’s not a dream. We can help you make Death Master File matching easy.
Are You Ready?
Hassle-free. Cost-effective. UPCR’s unclaimed property services are unparalleled. Book a no-cost, no-obligation consultation today, and discover how we can save you time, money and stress with:
- Project management to plan, execute, and manage your unclaimed property compliance projects from start to finish.
- Expert advice on all aspects of unclaimed property compliance, from risk assessment to voluntary disclosure.
- Design and implementation of a custom unclaimed property compliance solution that meets your unique and specific needs.
- Analysis of your unclaimed property data to identify potential risks and opportunities.
- Security assessments of your unclaimed property systems to protect your data from unauthorized access.
- Training for your staff on unclaimed property compliance and technology solutions.
- Support to maintain your unclaimed property compliance program.
UPCR is your partner in unclaimed property and technology. Let us help you reclaim your peace of mind.
Expert Compliance Assessment
An expert assessment of your in-house compliance team can highlight:
- What is working for you (aka, protecting you).
- What may be putting you at risk.
- What solutions are possible.
If a broader look is needed, our experts can do a full operational review and liability risk assessment to identify and quantify any liability that is subject to unclaimed property reporting. This can help you avoid costly fines and penalties and assure that you are in compliance with evolving state laws.
An operational review and liability risk assessment typically includes:
- A comprehensive high-level review of your business records and accounting systems.
- Identification of any property that may be considered unclaimed property.
- Quantification of the liability associated with any unclaimed property.
- Development of a plan to manage unclaimed property to avoid fines and penalties.
Our team can address any concerns identified through these services with information, training, processes, or whatever means are necessary to ensure your unclaimed property compliance needs are met.
From data gathering to reporting, from our team to yours, when UPCR talks about unclaimed property service, we mean full service. Compliance need not be a worry.
The Consequence of Non-Compliance
You’ve likely witnessed it yourself: states are becoming more aggressive about unclaimed property compliance. Reporting requirements are in a constant state of flux, as many state officials key in on fines and penalties as a source of deficit-shrinking revenue.
Whistleblowers are incentivized, too, as demonstrated in the case filed against JP Morgan Chase by Raw Data Analytics. Under Qui tam (whistleblower) statutes, triple the damages are awarded to firms that file whistleblower lawsuits.
Combined, the external pressures and internal weak spots can leave the insurance industry exposed to more risk than anyone even realizes. Until it’s too late.
Don’t wait another minute. Reach out to our expert team, and see how it feels to be free.
The Benefits of a Well-Crafted Unclaimed Property Program
Establishing a comprehensive unclaimed property program is more than just smart business – it’s essential to ensure compliance with state laws, streamline the processing and reporting of unclaimed property, and safeguard your business.
A robust unclaimed property program also helps reunite rightful owners with their property. This maintains your reputation and builds trust with your customers.
Some additional benefits include:
- Reduced Risk of Penalties
- Improved Efficiency
- Enhanced Reputation
- Operational Continuity
Make our promise your reality. Book your consultation today.be a worry.