Unlocking Orphan Assets:
A Journey of Innovation in the Insurance Industry

In the intricate world of insurance, the term "orphan assets" refers to funds that have become unclaimed due to the death of policyholders. These assets, while technically within the grasp of insurance companies, remain in a regulatory limbo until a proper process is undertaken to release them. This scenario is particularly prevalent in the UK, where strict regulations govern the handling and distribution of such funds. Our team undertook the challenge of designing and implementing a system to unlock the embedded value of these orphan assets, benefiting both insurance companies and the relatives of deceased investors.

The Challenge

Orphan assets represent a significant pool of unclaimed funds. For insurance companies, these funds are untapped potential that could enhance their financial standing. For relatives of deceased policyholders, these assets could provide much-needed financial support during a challenging time. However, navigating the regulatory landscape to release these funds is a complex and delicate process. Our goal was to create a seamless customer journey that complied with regulations, respected the sensitive nature of these funds, and delivered value to all stakeholders involved.

Designing the System

Our first step was to thoroughly understand the regulatory requirements governing orphan assets. This involved extensive research and consultation with legal experts to ensure that every aspect of our process was compliant. With a clear understanding of the legal framework, we moved on to design a system that could handle the complexities of these regulations while providing a straightforward experience for users.

Key Components of the System:

  1. User-Friendly Interface: The system needed to be accessible and easy to navigate for relatives of deceased policyholders. We developed a user-friendly interface that guided users through each step of the process, from initial contact to final disbursement of funds.

  2. Automated Verification: To ensure compliance and accuracy, we incorporated automated verification processes. These checks confirmed the identity of claimants and the legitimacy of their claims, reducing the risk of fraud and speeding up the overall process.

  3. Document Management: Given the sensitive nature of orphan assets, meticulous documentation was essential. We built a robust document management system to track every action taken and store all necessary documentation securely. This not only ensured transparency but also provided an audit trail for regulatory purposes.

  4. Integrated Communication: Effective communication was critical to our system’s success. We integrated various communication tools to keep claimants informed throughout the process, providing updates and requesting additional information when needed.

Building the Operating Model

With the system design in place, our next task was to build an operating model that could bring it to life. This involved setting up the necessary infrastructure, training staff, and establishing protocols for every aspect of the process.

Steps Taken:

  1. Infrastructure Setup: We deployed the system on a scalable infrastructure that could handle varying volumes of claims efficiently. This ensured that our system remained responsive and reliable even during peak times.

  2. Staff Training: Our team conducted comprehensive training sessions for all staff members involved in the process. This training covered the technical aspects of the system, regulatory requirements, and best practices for customer service.

  3. Protocol Development: We developed detailed protocols for each stage of the customer journey. These protocols outlined the steps to be taken, the documentation required, and the timelines to be adhered to, ensuring consistency and compliance.

Meeting Deadlines and Ensuring Compliance

One of the most challenging aspects of this project was adhering to strict deadlines while ensuring full compliance with regulatory requirements. Our team worked diligently to maintain a balance between speed and accuracy, implementing regular reviews and quality checks to keep the project on track.

Documenting the Process

Throughout the project, we maintained comprehensive documentation of all actions taken, systems built, and processes implemented. This documentation served multiple purposes: it provided transparency, facilitated audits, and served as a reference for future improvements.

The Impact

The implementation of our system to unlock orphan assets has had a significant positive impact. Insurance companies have been able to access previously untapped funds, enhancing their financial health. Relatives of deceased policyholders have received financial benefits, easing their burden during a difficult time. The entire process, built on a foundation of compliance and efficiency, has set a new standard in the industry.


Unlocking orphan assets is a complex but rewarding endeavor. By designing and building a system that created a seamless customer journey, we have unlocked value for both insurance companies and the relatives of deceased investors. This project stands as a testament to the power of innovation and collaboration in overcoming regulatory challenges and delivering tangible benefits to all stakeholders involved.


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