TLOxp Increases Place of Employment Information for Better and Faster Searches
Accuracy and speed is vital for most businesses, but these attributes are even more important in highly competitive industries. Data and analytics can be used to quickly verify information, identify connections and improve skip tracing efficiency.
TransUnion’s TLOxp is adding new personally reported place of employment (POE) information to make collections and risk management faster, more accurate and easier. With this addition, TLOxp customers will now have access to more than 170 million POE records. More than 35 million of these records are proprietary, and TLOxp’s database is now one of the largest sources of POE information in the U.S.
Place of employment information can benefit a variety of industries – from mitigating risk in financial services by conducting more accurate due diligence to finding the right party faster when recovering debt. The value of this data in the collections industry has long been an important component in debt recovery. With the addition of the new POE records, the industry has more access to proprietary sources.
Another area where place of employment information could help is in identifying insurance fraud. The estimated cost of insurance fraud in the U.S. is $30 billion a year, according to the Insurance Information Institute. Using TLOxp’s massive data repository with advanced linking algorithms, an insurance agency can quickly find place of employment to verify an applicant’s or claimant’s information and reduce the cost of fraud.
In addition, law enforcement officers and licensed private investigators can quickly search and identify place of employment from the TLOxp database. With new data added daily, TLOxp enables investigators to track down criminals and fraudsters faster.
Qualified and credentialed TLOxp users can access POE information through the online interface, batch processing, monitoring and API. For more information about TLOxp’s new consumer-reported place of employment information, please visit http://www.tloxp.com/place-of-employment or call 800-856-5599.