MIB CROSS CHECK The accurate way to identify deceased policyholders in the search for unclaimed benefits. MIB’s dual-match methodology optimizes accurate identification of deceased insureds and annuitants. Cross Check’s comprehensive database provides insurers with 30% more unique death notices than using the Social Security Death Master File alone. Accurate identification of deceased policyholders is a critical first step towards streamlining an insurer’s search for beneficiaries in its efforts to comply with unclaimed property obligations. Mortality identification is a complex and tedious task. Inconsistent data, typos, transposed alpha and numeric records, nicknames and insufficient data sources all can easily flaw results. In the end it’s about balance — overinclusive matching unnecessarily extends your due diligence, while missing records may result in fines and penalties. MIB Cross Check’s dual-match methodology solves these issues, teaming the life insurance industry’s most effective name matching technology from MIB, together with “fuzzy-logic” comparisons on Social Security Number (SSN), date of birth and other fields. Cross Check’s methods and technologies ensure a low false positive rate, providing an accurate mortality match to help meet regulatory requirements and demonstrate to regulators that your company has made all reasonable efforts to identify deceased policyholders. And now, Cross Check v.3.0 takes the Social Security Death Master File (DMF) and adds a new resource that includes death notices from over 3,000 public and private sources (ODS). Analysis shows the ODS database adds 30% more unique death notices beyond the DMF as well as providing additional 1 match fields that improve results accuracy. In addition, Cross Check’s new user interface is name centric, increasing the accuracy and efficiency when applying rules-based filters to the results data. n Dual-match methodology provides sharp identification of deceased policyholders both with and without SSN. n Sophisticated business rules filter results by match quality. n Side-by-side field match comparisons at the policy level let you assess match quality to establish thresholds for further due diligence. n Termination flags for policyholders who predeceased policy effective dates or died after policy cancellation dates. n Screens death notices from comprehensive sources: DMF and ODS databases. ODS data may contain vital clues for beneficiary location. n Excludes previously reported match records from future submissions. With over a century of expertise securely handling the industry’s most sensitive data and the proven accuracy of MIB’s name search technology, MIB Cross Check is the smart, accurate choice to streamline your company’s compliance efforts and help meet your regulatory and audit requirements. 1 MIB study compared the ODS database vs. the DMF identifying unique death notices during the 2013 reporting period. The Industry’s Most Precise Name Search Accurate name matching is the cornerstone of effective decedent identification. Older policy records may not have SSN and those with SSN can frequently contain inaccuracies. MIB Cross Check incorporates MIB’s ‘best-inclass’ name search technology, relied upon by the industry for decades to accurately identify insurance applicants when searching our Underwriting Services. MIB’s name search is a holistic approach to person identification. It uses proprietary, attribute-based scoring algorithms in evaluating each component of a name when compared against our extensive name dictionaries -- populated by the millions of applicant searches conducted annually by members. Since most life policies in the industry have been searched against MIB, in all likelihood, our dictionaries will contain an exact match of your policyholder, and if not, be able to decipher the name correctly. MIB’s name search captures common keying errors, transpositions, misspellings, extra characters, first initial matches, nicknames and English and foreign language translations including: n Spelling variation Smith/Smyth, Peterson/Petersen. n Common usage Barbara/Barbie/Bobbie, Kathi/Kathy/Kathleen, Richard/Dick/Rich/Ricky, Theresa/Terry/Tess. n Complex foreign name equivalent Santiago/James, Guillaume/William, Esteban/Stephen. A technical document detailing Cross Check’s matching criteria is available from your MIB sales representative. Comprehensive Source Data Ensures the Highest Accuracy Since 2011, the number of individuals listed in the Social Security Death Master File declined by more than 1 million names due to a provision in the Social Security Act2 that prohibited the SSA from disclosing “protected state death records.” To effectively fill these gaps and maximize death notifications, MIB Cross Check v 3.0 incorporates multiple additional data sources (ODS) providing a comprehensive death matching file to ensure that identification of deceased policyholders is as accurate and complete as possible. Our ODS resource contains death records from some 3,000 public and private sources including online obituaries, newspapers, funeral homes and hospitals. ODS is updated with some 6,500 new records daily, and for 2012/2013 has nearly twice the number of reported deaths than of that of the DMF. An MIB study showed ODS data was found to contain 30% (approx.) more unique death notices beyond what is reported in the DMF in a side-by-side comparison of 2013 data. Importantly, the ODS database includes the additional matching fields of native city and state of residence from the obituary, which can enhance matching accuracy and may provide clues for beneficiary location. Data Fields and Security MIB Cross Check batch runs your policyholder records monthly, quarterly, or semi-annually depending on your requirements. Cross Check uses MIB’s security infrastructure and frameworks which are capable of processing millions of policyholder records efficiently and accurately. Our data coordinators facilitate record transfers either through the secure Accellion® tool or direct computer-to-computer using Secure FTP. We perform a thorough QA process to validate all supplied data prior to the start of each engagement. Minimal field requirements ease your data gathering task; extracts from multiple disparate administration systems can be conveniently combined into one enterprise-wide search. Custom fields defined at the start of an engagement let you easily filter and sort results by groupings such line of business, distribution channels, subsidiary, etc. Similarly, policy record data such as beneficiaries and contact information can flow through the Cross Check results set to facilitate due diligence in your unclaimed property workflow. 2 Section 205(r) of the U.S. Social Security Act. Establish Realistic Thresholds for Match Definition MIB Cross Check v. 3.0 uses a series of 17 business decision rules that are name match / date of birth centric, providing a quick and easy review of your results with progressive levels of granularity. All summary reports are hyperlinked, enabling easy drill down to policy match results for rapid review. Cross Check reports are Excel® based to minimize training and get your compliance staff up and running quickly. Rules-based summary reports allow you to filter the results with your legal and regulatory compliance team, to best determine what close match records are appropriate for distribution to your company. Results can either be securely delivered in an Excel workbook or as a pipe delimited text file for import directly into your administrative systems. With the need to demonstrate careful diligence, MIB Cross Check’s sophisticated decision rules give you the power to easily refine massive amounts of data so you can balance effectiveness with efficiency. Prepared For: ABC Life Summary of results by name match quality. Click on the + symbols below to expand field information (Death Data Source and SSN Match). Double-click on any count to view actual records in a separate tab. Count of Name Rule Description Data Source SSN Match ODS SSDMF Name Match Quality High Quality Match Name Rule Number 1 2 3 4 5 6 Name Rule Description Exact Match on DOB,LN,FN; Exact Match on DOB,LN,MI; Fuzzy on FN; Exact Match on DOB,LN; Fuzzy on FN,MI; Exact Match on DOB,LN; Fuzzy on FN; Null on MI; Exact Match on DOB,LN; Fuzzy on FN; No Match on MI; Exact Match on DOB,LN; No Match on FN; 7 8 9 10 11 12 13 14 Exact Match on DOB; Fuzzy on LN; Exact Match on LN,FN; Fuzzy on DOB; Exact Match on LN,FN; Fuzzy on DOB; No Match on MI; Exact Match on LN; Fuzzy on DOB,FN; Exact Match on LN; Fuzzy on DOB; No Match on FN; Fuzzy on DOB,LN; Exact Match on DOB; No Match on LN; Fuzzy on DOB; No Match on LN; High Quality Match Total Medium Quality Match Medium Quality Match Total Low Quality Match Low Quality Match Total Grand Total 2 11 2 10 25 11 864 60 54 47 27 1,063 15 Exact Match on LN; No Match on DOB; 17 No Match on DOB,LN; 1,088 SSN 7 SSN of 9 Submitted SSN Not and did not Submitted Name Match SSN Match Match 919 2 209 29 14 1 36 3 4 1 11 72 1 1 7 9 43 2 958 3 368 35 13 38 50 845 7 2 80 1 1 151 8 49 2 76 1 5 37 3 26 3 74 1,302 22 25 1 4 29 1 1,061 4 1,670 57 Grand Total 1,159 56 5 95 10 64 1,389 62 1,766 143 214 51 124 42 59 2,461 26 4 30 3,880 Analytic decision rules let you parse match results by the criteria you deem most acceptable. Rule 17 pinpoints records with only exact matches against SSN for review to help meet your compliance obligations. All summary reports are hyperlinked to policy level match details in a Cross Check results set. Results Deliverable An MIB Cross Check workbook contains reports that include: n high-level summary match statistics n results by death source (ODS vs. DMF) n results by submitted name and policy number n multiple policy matches with policy numbers n side-by-side field comparison match records n compound name results n first / middle name swap n record with SSN exact match only n terminated policies flag n data definitions n results by decision rule summary SSN Compare (SSDMF:Submitted) n/a 183100148 : 183100418 534059002 : 000000000 413240450 : 000000000 - DOB Compare (Matched:Submitted) 03301910 : 03311910 05251923 : 05151923 - Last Name Compare (Matched:Submitted) MASTROGIACOM : MASTROGIACOMO LEONARD-GIOR : LEONARD GIORDANO HANSEN : LAFFERTY-HANSEN DIMPERIO : IMPERIO CORRADETTI J : CORRADETTI JR First Name Compare (Matched:Submitted) Frieda : FREIDA GLADSTONE : MALCOLM JOSEPH : J F : FLORINE GIDEON : G MARIA : MARIE PATSY : PASQUALE - MI Compare (Matched:Submitted) C:A M : GLADSTONE B : BERNARD H:R n/a n/a :AD :J The field comparison match report allows you to assess match quality of results by field data to determine follow-up strategy. A dash represents an exact match and close matches are indicated by actual field / data comparisons. MIB Cross Check is provided by MIB Solutions, Inc., a subsidiary of the MIB Group, Inc. 50 Braintree Hill Park, Suite 400 • Braintree, MA 02184-8734 • www.mibgroup.com ©2014 MIB Group, Inc. All rights reserved. Form: 20140714