Locating those in line to inherit deceased’s estates or matured insurance policies is often a daunting task faced by financial services companies.
This is so as pensions don’t automatically ‘sort themselves out’ when someone dies or when a policy matures.
The grey hair industry, often to address this predicament, engages genealogist researchers or probate detectives to find and identify those who may be in line to inherit some or all of a deceased’s estate.
This is where Heir Hunters Pty Ltd comes in.
After working for blue chip companies like Absa Botswana and Debswana Pension Fund, a benefit payment investigator Aletta Tshiamo and her partners formed the company after realising that tracing beneficiaries is always a burden to the companies.
The company, which is wholly citizen owned, traces missing beneficiaries, heirs of unclaimed benefits and deceased people’s estates. It also assists in locating citizens for local documentation and member education on behalf of institutions.
“Pension funds, banks and insurance companies often find themselves having to identify owners or beneficiaries of dormant bank accounts, estates or matured insurance policies giving them extra administrative burden,” Tshiamo explains.
“This is where Heir Hunters come in handy to help resolve this problem by tracing and identifying beneficiaries or members.”
Tshiamo says her company is fully equipped to provide tracing services as it is made up of professionals with proven expertise in locating beneficiaries in trust funds, deceased’s estates, dormant bank accounts,
“We are essentially qualified and experienced professionals in human capital, benefits investigation and client relations. To efficiently deliver our services, we also employ innovative techniques to provide beneficiary tracing and verification services to other clients like banks and insurance companies.”
Tshiamo says services offered by Heir Hunters present a breath of fresh air for pension funds who often have to grapple with the persistent administrative burden of missing beneficiaries. She adds that it will also reduce unclaimed benefits and dormant accounts which have overwhelmed most financial institutions.
Over the years, Heir Hunters has built capacity to even conduct cross border investigations, further reducing the burden on financial institutions.
“Tracing is often a tedious process because as some people regularly change addresses while others may not be aware that they are entitled to benefits,” Tshiamo explains. “As Heir Hunters we are here to relieve banks, insurance companies and pension funds from this administrative burden by tracing beneficiaries for them. Our services will also reduce unclaimed benefits and dormant accounts which are also problematic for most financial institutions.”
She adds that banks, insurance companies and pension funds have over the years become increasingly concerned with the issue of missing beneficiaries, dormant bank accounts and matured insurance policies.