Financial Services companies are facing challenges to develop the capability to comply with new unclaimed property regulations. A truly healthy unclaimed property operational process is not only compliant, well controlled, efficient and cost effective, but addresses common challenges such as legacy technologies, poorly integrated acquisitions, and data completeness and quality. Navigant is able to help determine whether the appropriate resources (a cross–disciplined team, technology, process and reporting) are in place to bring the requisite data together in an efficient and sustainable manner to identify policyholder liability, pay beneficiaries and/or escheat funds in compliance with unclaimed property laws.
Key Service Offerings Include:
Matching Proof of Concept
Navigant processes a sample set of customer policies against Navigant’s enhanced death record database using our proprietary matching engine..
Health Check Services – Settlement and Future State Readiness Review
Navigant can perform a control review of our customer’s existing Unclaimed Property operational process reporting capabilities and infrastructure.
Multiple Death Sources
Navigant's enhanced death record database includes:
The Social Security Death Master File (Navigant has received certification from National Technical Information Services (NTIS) for continued access to the DMF.
State vital files records
Over 20 million records sourced from over 3,000 alternate sources of death data for all states.
Regulatory Matching Logic
Navigant continues to tailor its proprietary matching engine to meet the most recent of regulatory changes.
Other Related Unclaimed Property Consulting Services Include:
Death Records Database – Options for DMF hybrid,
State Vital Files & Alternate Data sources
Data Warehousing / Management Database
Liability Exposure and Settlement Analysis
Future State Design, Matching Refutation Engine, Regulatory Compliance and Responsiveness and Settlement Implementation and Operational Response