Unclaimed Insurance Policies

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If our customers insure themselves for the unexpected wouldn’t you expect to settle the claim? We can help you fulfil your commitments to your customers.

Every UK company faces the costs and challenges of managing their registers and records. Since new banking regulations have come into effect, regarding unclaimed assets, the broader financial industry has been turning their attention to their own approach to this industry-wide concern.

Keeping track of policy holders can be a challenge. There is, however, much that we can do to help you proactively re-unite policy holders with money to which they are still entitled. Improving the accuracy of your register and records will help the efficiency of managing these registers. You, in turn, will save money.

Why are these assets unclaimed?

Within the term of a policy it is inevitable that a number of holders will lose contact with the insurance company. The main reasons for this are that 1) the beneficiary has moved and not informed the company 2) they are not aware of their entitlement and 3) the estate of the policy holder is not aware of the policy or entitlement.

Core unclaimed assets

• Matured savings plans
• Life policies
• Event Insurance

Our offering

As innovative industry leaders we are able to offer a bespoke offering for you and your customers. Essentially we identify assets, trace their owners, and give back control of these funds. Elements of the process, which you can select depending on your needs, are as follows:

• Full data cleansing, enhancement and tracing services
• Mortality Screening and executor/ beneficiary tracing
• State-of-the-art technology and IDv services
• Full Legal Document services including Death & Marriage certificates, Grants of Representation and Commissary records
• Full outbound and inbound call campaigns (if required)
• 24 hour customer support
• Management information services to the client

Key benefits to you and your customer

• The service is free of charge to you; as costs are covered through investor fees
• Reduces record management costs
• Re-establishes your relationship with your customer
• Provides you with refreshed leads for product cross-selling and marketing
• Reduces opportunities for financial and identity crimes
• Demonstrates your commitment to corporate and social responsibility
• Demonstrates best practice corporate governance
• Improves investor confidence

Why us?

• ProSearch has over 20 years of corporate heritage
• We are leaders in intelligent investor location with success rates up to 80%
• We have successfully returned millions of pounds in unclaimed assets
• We have a highly innovative team of problem solvers
• Our in-depth knowledge of the financial registration business is the foundation of business
• We lead in practice but remain competitive in price

For further details of our services, or to discuss your company’s specific requirements, please contact us or download our brochure.

Duncan Stevens
Head of Asset Reunification
Caxton House
22 St Johns Hill
Sevenoaks
Kent
TN13 3NP

T +44 (0)1732 748 154
M +44 (0)7843 228 988
E Duncan.stevens@prosearchassets.com