The "Why" behinh our work
In 2014, I was a trusted financial advisor for a Fortune 500 insurance and investment company. As I sat in a continuing education class, I heard an alarming stat. The presenter explained that a very large number of life insurance policies go unclaimed for one reason or another. This fact seemed unimaginable to me at the time. I thought – how can so many policies go unclaimed? This question became my mission, to determine whether the statement was accurate, and if it could be solved. Due to my financial background, I believed (and still do) that life insurance companies want to pay claims – that is their number one priority. I assumed the issue could be a breakdown in communication amongst policyholders, life insurance companies, and beneficiaries.
With the Benekiva platform you can increase customer and employee satisfaction, comply with the ever changing unclaimed property laws, and manage the claims process from start to finish including the payment!
Now you can utilize your claims process as a revenue driver, increase efficiencies, and deliver a better customer and advisor experience!
Reduce the expensive and time-consuming audits. Comply with the ever-changing unclaimed property laws within each state. And most of all, protect against reputational damage of the company.
Is your policy holder information accurate? Has your company ever paid an "ex-spouse"? Make sure this doesn't happen any more! We have ongoing tracking and updating of policy holder information to solve this issue.
Would it be helpful to know what type of products your customers want? Do you have the right products for Millennials? We have the ability to manage, report, and provide useful data to our clients.
Would you rather pay beneficiaries or escheat those monies to the individual states? We believe the insurance companies would rather pay their beneficiaries and create an opportunity to retain those assets and replaced a deceased client with a new client.
Part 1 – Your claims process and systems are a customer experience issue.
Part 3 – Your claims process can become a revenue driver for your products!
Technology is changing at an exponential pace, and so are the consumers expectations of having products and services to come with a digital experience.