By Luke Cheadle, Head of UK Operations for The Estate Registry
There is a well-known saying that a cynic knows the price of everything and the value of nothing. It’s attributed to a character in an Oscar Wilde play and has become a common riposte by salespeople frustrated by a buyer’s perceived ‘penny wise pound foolish’ approach to any new idea, especially when it involves technology.
Of course it’s not always fair. Many can indeed see the value, but lack sufficient budget, even though the cost of not doing something will ultimately be to the organisation’s detriment. Short-termism is a common problem in healthcare, for example: treating the symptoms, rather than tackling the cause, because the former is affordable within the immediate budget round even though the latter will be the better long-term financial option.
We can take this analogy and consider it in the context of death notifications. Buying a digital, death notification service, to make it easier for the family of a loved one who has died to notify a third party (a bank, utility or subscription service provider for example) of a death, comes at a cost that has to be budgeted for.
And that’s where the challenge begins. It is difficult for some to see it as ‘essential’; it’s more of a ‘nice to have’. As such, it’s a topic that is not a priority to some, and certainly not one to include in the budget, whereas to others it’s seen as an opportunity for delivering a significantly improved customer experience and protecting the reputation of the business.
Dealing with a death is a difficult subject, both for those tasked with reporting it, and those on the receiving end of managing the administration that follows. Those reporting a death are often vulnerable; it is an emotional time. Having to notify multiple departments, often multiple times, can induce considerable stress, and immense frustration leading the government to introduce ‘Tell Us Once’. It is also a grossly inefficient use of time for the organisation concerned.
The financial benefits of deploying a digital death notification service
Digital death notification services are, of course, a large part of the solution. The ability for the bereaved to go on-line, and by filling out a simple form and uploading a few documents know that their job is done, is an enormous relief. It is also enormously efficient for the organisation, which can re-deploy those people previously tasked with administering a higher number of calls.
The ‘cost’ of a death notification service cannot properly be assessed without understanding the money that it ultimately saves, and the value that it brings. Reducing the volume of calls coming into the customer service centre delivers a direct cost saving. If the call volumes are reduced, then organisations can reduce the number of agents who need specialist training, which means a significant saving on the training budget.
But the point is that it’s not just about money, it’s about value. Certainly, introducing a digital death notification platform into a consumer-focused organisation will ultimately save money, and there are return on investment models that will prove the case. More than this, many companies using digital platforms such as Settld and NotfiyNOW from The Estate Registry have already put theory into practice and are enjoying the benefits.
What all these organisations have in common is that they have recognised the benefit is not just about the bottom line. The real value comes in the enhanced customer experience, freeing agents to talk to other customers, and in proving those organisations really do care about protecting the most vulnerable in society. They are walking the talk in death notifications and true customer service.
This article was submitted to be published by The Estate Registry as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
