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Why do I need Skopenow's Business check?

With long-term claims requiring less continual interaction from a claim handler, the opportunity for claimants to malinger while continuing to work has never been more of a problem. Claimants can continue obtaining additional income sources by delivering goods or services through personally owned businesses that would breach the terms and conditions of their claim.


Without a proactive approach to checking business activity, insurers can pay out substantial reserves to claimants that do not qualify for long-term coverage. Over 1,000,000 disability, life, and workers' comp claims are filed annually, making automated claims processing difficult. The high volumes of claims on a book of business can be challenging when insurers rely on legacy research methods for surfacing business records in the claimant’s name.


Identifying a claimant's business affiliations is one of the most time-consuming aspects of verifying these claims. There is no reliable, direct way to manually connect a person and their aliases with state business filings, online marketplaces, and e-businesses while simultaneously flagging which business affiliations are relevant to a claim.


Skopenow's automated Business Check will match your person of interest to the data pool of business filings through state and federal databases and numerous other online sources.

Further Thought

Insurance policy and claim exposures involving bodily injury claims, workers' compensation, and long-term disability can have exclusionary requirements surrounding the involvement of commercial activity. If an injured worker has additional income from business activity this will impact claims handling, and potentially result in SIU involvement for fraud referral. If an insured party is involved in the "gig" or "sharing" economy work they may be excluded from coverage in personal auto and homeowners insurance policies. Discovering a disability claimant has undivulged business entity involvement may warrant further Underwriting, Claims, and SIU review.

In the course of underwriting processes, claims handling, and SIU investigations, locating data about the origin and ownership of a business entity may materially impact decisions around risk, coverage, and damages. Secretary of State and business filings tied to a person or address will create additional investigative leads to enable higher-quality decision-making within your business process.

Instant Business Checks at Scale

Business Check receives information via API or FTP
Business affiliations are returned to the customer via API or FTP
Any new filings or updates are sent back to the customer
REAL TIME

Once a claim is filed, Business Check is ready to add real-time value.

Once a claim is filed, any and all business affiliations are pulled directly via API or FTP. Results can be processed in batches or on a one-off basis. Given that most carriers handle large quantities of claims, Business Check is designed to only trigger if a Secretary of State filing, e-Business, or domain registration is found. All Business Check triggers can be customized for a more carrier-specific experience.

Business Check Data Sources

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Secretary of State Filings
e-Business
State Registrations
Domain Registrations
 
Marketplaces

Success Story: Business Check in Action

Skopenow streamlined an insurance carriers workers' compensation and long-term disability claims at scale using Business Check

Claim Intake

Skopenow Business Check ingested key identifiers such as FNOL Date and PII for each claim.

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Identifying Businesses

Business Check surfaced active and historic business records for all appropriate claims across state and federal databases. These results included important metadata like incorporation date, status, and position of the claimant.

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Flagging Key Findings

Based on the results, Skopenow flagged businesses registered or active after FNOL. This indicated potential fraud as the claimant was still receiving payments as part of their long-term disability or workers' compensation claim, despite operating an active business.

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Real-Time Updates

Skopenow Business Check monitors the book of business over time to flag any future business record activity that may occur.

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Key Outcomes

Automated business record review at scale, saving 20+ minutes of manual review per claim.

~50% of flagged claims had an immediate actionable outcome.

Potential restitution of >$100,000 per claim on high liability claims.