UPExchange: Reporting from the Cloud by ETM. A Special Interview by. The Roving Reporter. Jill Wrenne Podiatry Insurance Company of America (PICA)

Transcription

1 A Special Interview by The Roving Reporter Jill Wrenne Podiatry Insurance Company of America (PICA) UPExchange: Reporting from the Cloud by ETM

2 Following a hankering for ice cream, our direction-challenged Roving Reporter recently got in his car without his GPS, of course and drove until he found himself in Franklin, Tennessee. By the time he d gotten there, his craving for ice cream had gone away. So, he decided to chat with Jill Wrenne, Financial and Compliance Specialist and the proud keeper of more than 100 unclaimed property records per year for Podiatry Insurance Company of America (PICA).

3 PICA provides medical malpractice insurance for podiatrists and chiropractors. And Jill has to manage unclaimed property records for two insurers and two other companies. UPExchange: Reporting from the Cloud by ETM

4 I fundamentally understand what unclaimed property is all about. But one of the things I love to find out about is the kinds of property records that companies hold. What do you hold? Well we hold basically premium refunds. Maybe insureds have overpaid on their policies or cancelled them, and we send them refund checks accordingly. We also have some invoices we ve paid for which the recipients never cashed the checks. I find there are fundamentally two kinds of people in the world: those who cash checks and those who don t. I m very much a check-casher. [laughs] Me, too! Do you find any particular challenges in managing unclaimed property records? Well, I haven t totally wrapped my brain around unclaimed property yet. I get the gist of it, and I know what I m supposed to do. But there are so many moving parts to it. I don t want to put you on the spot, but when you say you haven t quite wrapped your head around unclaimed property, is it that you are new to that responsibility? Is it the newness of UPExchange?

5 I m fairly new to this responsibility. I ve had it I guess about a year and a half. And one of my other big responsibilities is the rest of the company s financial reporting. We re an insurance company, so we have to file our annual statements and core financials with the state. Ah. So, you may be relatively new to unclaimed property, but you certainly know your way around numbers. Yes. I ve been around them for years. But for all of that financial information, I typically have just one due date. Just like unclaimed property. I wish. Every state has different due dates, definitions, dormancy periods, due diligence rules, and such. And we actually have two insurance companies and two other corporations for which we have to file reports. I think I just broke out in hives at the mere thought. UPExchange: Reporting from the Cloud by ETM

6 [laughs] So, it was difficult for me. I tried to develop my own system or spreadsheet to keep track of who requires what and when. To make matters worse, the requirements and dates keep changing. There had been someone here doing this before me. When it was handed to me and after I got tired of trying to create my own system I found there was software like UPExchange. We were all for using UPExchange, once we found it. And the folks at ETM have been wonderful. I think there might be some things UPExchange still needs. But I don t know if it s because there are so many moving parts. Does that make sense? It does. Knowing the ETM folks as I do they re very attuned to the needs of their customers I d suggest that if you have any suggestions, they d probably be delighted to hear them. I ve already done some of that. I have Post-It notes everywhere to keep track of my ideas while I m working in the system. I haven t sent them along yet because unclaimed property isn t my full-time thing. Do you find UPExchange easy to use? Because I only work on unclaimed property at certain times of the year, I have to almost relearn it each time. But that s no reflection on UPExchange. It s a result of who s governing the unclaimed property.

7 It s kind of you to say so. Really. The system is great. It s just I ve got to get myself around it. The system s still new, and I m new to unclaimed property. We re going through it together. I think they d agree it s a collaborative effort. I once had a scheduled call with Layton Olson, a Senior VP at ETM. He said at the start, Would you mind if we kept the call to ten minutes? Some of our UPExchange support folks have fallen ill this week, and I m going to lend a hand on the support lines. Oh, wow. That s a huge statement to me. There s nobody too big or too important that they can t roll up their sleeves and get it done. Exactly. If you re a client, you re important. And speaking of important, this conversation is important. And I ve enjoyed speaking with you very much. Thank you. Thank you. I ve enjoyed this, too. Good luck finding your ice cream and your way home. UPExchange: Reporting from the Cloud by ETM

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