FAQ
Below are some of the most commonly asked questions about Evadata and our products. Don’t see an answer you need? Submit your question to [email protected], and we will reply promptly.
Evadata Questions
Evadata is a company that provides life and annuity carriers with data, technology, processing, and collaboration capabilities for the benefit of policyholders and the evolution of the industry.
Evadata is building a modern-day cloud-based platform that follows best practices and standards in security, privacy, and user experience.
Evadata supports prominent carriers in the life and annuity market to better serve their customers.
Evadata LENS Questions
Evadata Life Event Notification Service (LENS) accelerates the claim process by improving death notification speed and decision-making by processing data across carriers for common customers. In addition, it incorporates the Death Master File, state data, and obituary data, allowing carriers to get a vast amount of necessary information from one provider.
LENS’ speed and accuracy of policyholder life events can have many impacts for carriers, such as:
1. Improved customer experience
2. Reduced unclaimed property liability
3. Reduced interest and overpayment expenses
4. Fraud investigation alerts for common customers
5. Faster decision times and reduced claims processing resources.
Carriers who are prioritizing scalability and positioning for continuous technological transformation will find LENS to be a great fit for them. Agile organizations can find high affinity with LENS’ quickly-growing capabilities, allowing the product and the carriers using it to benefit from a continuously more robust data feed and death matching without having to ever struggle with tech teams, security, or implementation.
Yes. Evadata is SOC 2 Type 1-certified and is expected to complete SOC 2 Type 2 this year.
Evadata LENS has straightforward pricing with a flat fee that doesn’t charge extra for additional scans. Once it’s setup, you use it at your leisure and according to your team’s capacity.
LENS leverages a unique combination of sources including the the federal Death Master File, nationwide funeral home and newspaper obituaries sources, state vital record sources, and our proprietary carrier network sources.
While the federal DMF at one time accounted for all deaths in the U.S., it is now limited to fraction of the annual deaths, estimated at less than 10% of total deaths nationwide. For most carriers, relying solely on DMF for unreported deaths presents significant risk.
There are many mortality scanning solutions on the market. Evadata LENS is the only solution that combines a modern technology platform with mortality events data ensuring that carriers can not just check a compliance box but can they can also leverage data to transform claims operations and deliver a better experience to the beneficiary.
Evadata ACT Questions
We would be happy to give you a tour of ACT. Send us a note via our contact form, and we will get back to you right away.
Evadata Anti-Fraud Collaboration Technology (ACT) is a community platform for sharing fraud intelligence, anti-fraud strategies, and the most effective fraud prevention training.
ACT is an integral tool for carrier fraud prevention teams that provides:
1. A secure forum where carriers can ask questions of one another and of experts, gather market intelligence, and discuss new trends
2. Access to a robust Knowledge Repository of best practices, surveys, and recommendations
3. Compliance wikis on state fraud requirements and law enforcement expertise
4. Weekly threat digest of fraud and cyber threats
5. Monthly expert webinars on critical topics in fighting insurance fraud.
