Like their utility counterparts, communications providers routinely participate in federally subsidized assistance programs that discount installation or monthly service for qualified low-income customers. But, as utilities have found, certain challenges must be considered when mining this segment for new growth opportunities, including:
- Thwarting scammers who use falsified income data and/or multiple IDs to game the system and double up on discounts
- Equipping internal teams to efficiently process the potential mountain of program applications and recertification paperwork
The right tool for the job
Experian’s Financial Assistance CheckerSM product is a powerful scoring tool that indicates whether consumers may qualify for low-income assistance programs (such as LifeLine and LinkUp). Originally designed for (and currently used by) utilities, Financial Assistance Checker offers risk-reduction and resource utilization efficiencies that also benefit communications providers.
Automation saves time
For example, Financial Assistance Checker may be used to help qualify specific individuals among new and existing low-income program participants, as well as others who may qualify but have not yet enrolled. The solution also helps automate labor-intensive manual reviews, making the process less costly and more efficient. Some companies have reduced manual intervention by up to 50% by using financial assistance scores to automatically re-certify current enrollees.
Strengthen your overall game plan
Experian’s Financial Assistance Checker may be used to:
- Produce a score that aids in effective decisions
- Reduce the number of manually reviewed applications
- Facilitate more efficient resource allocation
- Mitigate fraud risk by rejecting unqualified applicants
Cautionary caveat
Financial Assistance Checker is derived exclusively from Experian’s credit data without demographic factors. While it’s good at qualifying applicants and customers, it may not be used as a basis for adverse action or removal from a program — only to determine eligibility for low-income assistance.
Today, acquisitions is the name of the game. If your growth strategy calls for leveraging subsidized segments, consider adding Experian’s Financial Assistance Checker product to your starting lineup. After all, the best offense could just be a strong defense.
Link & Learn
This link takes you to a short but informative video about LifeLine and LinkUp.
See the FCC’s online Lifeline and Link Up program overview here.
Hot off the government press!
Click to see the FCC’s 6/21/11 report on Lifeline and LinkUp Reform and Modernization
