Estatesearch introduces a new Will Bank Management Service for legal firms, enhancing data efficiency and client engagement.
- The service, already adopted by several legal firms, aids in managing client data and complying with GDPR regulations.
- The tool helps practitioners avoid sending correspondence to deceased clients or incorrect addresses, streamlining operations.
- This service identifies deceased clients and updates addresses, reducing costs associated with outdated information.
- Legal experts testify to the efficiency and effectiveness of the service, highlighting its utility in maintaining client relations.
Estatesearch, a leader in legal technology, has unveiled a new service designed to assist private client practitioners in efficiently managing their Will Banks. This innovative service aims not only to enhance data management but also to maximise potential work derived from existing clientele. With the added benefit of GDPR compliance, several firms have already integrated this service into their operations.
The pressing need to update client databases regularly is underscored by statistics from the Office of National Statistics, which report over 100,000 individuals moving house and 55,000 deaths monthly. These figures highlight the risk of outdated information leading to sensitive material being sent to wrong addresses or deceased clients. The Will Bank Management Service addresses these concerns, offering practitioners a solution that can be seamlessly integrated into their daily routines.
The service’s framework involves three critical stages: Screening, Cleansing, and Notifications. Initially, a complimentary health check evaluates the state of the testator database, revealing any outdated records. Subsequently, the cleansing process utilises multiple data sources to identify deceased clients and determine accurate forwarding addresses. Finally, the service facilitates ongoing monitoring to keep databases current and alert practitioners to any changes impacting client files.
Ben Furlong, Managing Director of Estatesearch, highlighted a notable finding: approximately 10% of Will Bank records concern deceased individuals, often unknown to the firms. This bespoke platform provides vital updates, ensuring client communication is both respectful and current. Dean Miller of Shakespeare Martineau commended the service for its ability to quantify deceased clients accurately and tailor approaches to current clients, recommending it for future projects.
In addition to improving client interaction, this management service also reduces overheads related to undeliverable mail and unnecessary database administration, thereby cutting costs significantly. Such enhancements underscore Gartner’s findings that retaining existing clients is considerably more cost-effective than acquiring new ones. Thus, maintaining the integrity of a firm’s Will Bank not only upholds client service standards but also amplifies the opportunity for future probate work.
Estatesearch’s Will Bank Management Service exemplifies innovation in legal operations, streamlining client data management and strengthening client relations for firms.
