identifying decedents

The Ultimate Guide to Finding Decedents in the Insurance Industry

How to identify decedents efficiently and effectively without a single and comprehensive data source. Insurance companies deal with a variety of challenges when managing their policyholders (life, long term care, PRT, structured settlements, annuitants), with inaccurate or missing participant data being the most impactful. Incorrect information affects how insurance companies communicate with policyholders, accurate forecasting of risk, the number of overpayments made, access to information when a Department of Labor [...]

John Bikus2024-04-26T15:04:57-05:00April 12th, 2023|Death Audit & CertiDeath, Insurance|

Case Study: PBI Research Services Saves Michigan Public Employee Union Pension Thousands

The Michigan Education Association (MEA) is a self-governing education association representing about 120,000 teachers, education support professionals and higher-education employees throughout the state. The association has grown from their inception in 1852. Today, they offer public school employees healthcare through MESSA, as well as retirement and insurance programs through Michigan Education Association Financial Services (MEA Financial Services). Challenge Over the past few years, the MEA pension system, the Staff Retirement Plan (SRP), has struggled [...]

John Bikus2023-06-15T10:28:39-05:00February 21st, 2023|Case Studies, Death Audit & CertiDeath, Pensions|

Why the DMF isn’t Adequate for Insurance Companies

Identifying deaths has become harder for insurance companies. In 2011, a change to the SSA Death Master File (DMF) fundamentally altered the Death Audit landscape resulting in challenges to Death Audit providers accompanied by a significantly increased burden placed on insurance companies to accurately identify deaths of policyholders. Because of this, missed deaths are leading to overpayments for insurance companies in their Pension Risk Transfer (PRT) and Structured Settlements lines of business. In Long Term Care (LTC), [...]

John Bikus2024-05-01T14:24:57-05:00February 9th, 2023|Death Audit & CertiDeath, Insurance|