Knowing your Customers Deceased Status gives has many advantages such as;
Protecting your brand name by avoiding sending sensitive communication
Credit Providers can avoid sending collection letters for non-payment. Most credit providers have specially trained consultants that can take over the communication function should a credit provider be aware of the death of a customer.If Credit Providers are not aware of their customers deceased status you increase the chance of brand damage by leaving accounts with outsourced debt collectors who may lack the necessary empathy and understanding needed to handle the sensitive nature of a death.
Ensuring proper distribution of insurance claims
Insurance companies use deceased database update solutions to ensure beneficiaries of life insurance policies of decedents are paid promptly.
Insurers may also use this information to confirm decease status for claims purposes prior to distribution of funds.
The FSB (Financial Services board), make it compulsory for companies to intensify their efforts in keeping their customer databases up to date. The benefits are far reaching, if we just look at the unclaimed benefits challenges that Life Assurance and Retirement Funds face, it is a reality that;
Dracore deliver Deceased Validation services across the following channels;
We would be more than happy to give you a sample for the various delivery channels, so fill in the relevant form below and check your inbox.