Unclaimed Property Recovery & Reporting L.L.C. (UPPR) and InfoAge Inc. are teaming up to offer a service aimed at life insurers that want to locate policy beneficiaries.
UPPR, New York, and InfoAge, Rochester Hills, Minn., will be combining InfoAge data filtering technology and the UPPR Next of Kin database in a package aimed at life insurance unclaimed property operations.
Life insurers generally face no legal requirement to determine whether policyholders have died or locate the beneficiaries of missing policyholders, but, in recent months, life insurers have been facing increased pressure to take active steps to determine whether policyholders have died, rather than simply waiting for claims to come in, UPPR says.
- Allison Bell