LifeStatus360 Introduces New Compliance Solution 

Pinpoint360 is a regulatory compliance solution developed to address the Department of Labor’s focus on locating missing pension plan participants to meet fiduciary requirements.

(Image source: LifeStatus360 via PR Newswire.)

LifeStatus360, a Concord, Calif.-based provider of data compliance solutions has introduced a new regulatory compliance system, Pinpoint360, which uses the vendor’s C3 process. The process ensures is designed to ensure that customers receive clean data, current data and complete data before using the new Pinpoint360 technology, according to the vendor. Pinpoint360 is a regulatory compliance solution developed to address the Department of Labor’s focus on locating missing pension plan participants to meet fiduciary requirements.

“The numerous conversations and meetings with the Department of Labor have been highly beneficial,” comments Chris Scaramastra, President, LifeStatus360.

LifeStatus360’s new regulatory compliance system works jointly with the vendor’s audit solutions to ensure customer fiduciary responsibility as required by the Department of Labor auditors, as well as federal and state government entities. “Using the C3 process, this latest technology provides unobscured data utilizing the full scope of the company’s data sources, which include Obit360 and LifeStatus Proprietary,” a LifeStatus 360 statement says.

Casting a Digital Net

As a player in the death audit industry, LifeStatus360 describes itself as dedicated to providing complete solutions that integrate the latest technology with the highest level of security. Using Pinpoint360 and the C3 process, LifeStatus360 casts what the vendor calls a digital net to deliver participants’ digital footprints, including: identification of participants and beneficiaries, clear and concise PII data elements, location targeting for missing participants, data quality analysis and a Statement of Compliance, which outlines the search steps taken to locate plan participants.

“Pinpoint360 is our latest solution that allows our customers to Communicate and Connect with their participants,” comments David Wiley, Director of IT, LifeStatus360.

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For over a decade he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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