Phillips & Cohen Associates, Ltd. celebrates the launch of their proprietary data management platform
After years of behind-the-scenes development and over $1M invested, Phillips & Cohen Associates, Ltd., the global leader in deceased account care solutions, is thrilled to announce the expansion of its suite of services with the launch of the new proprietary platform, The Estate Registry (TER).
The Estate Registry, recently named one of the top two new tech solutions at the 2021 insideARM Strategy and Tech Conference, offers three uniquely designed editions which, when combined, create a platform that accomplishes PCA’s mission of compassionately simplifying the complex process of probate estate management, Executor/administrator notification obligations and account resolution. PCA will launch TER’s Notifier, Creditor and Digital Lock Box editions in 2021.
Identifying and notifying creditors of someone’s passing can be a daunting and burdensome task. The Estate Registry’s “Notifier” solution will streamline and eliminate the potential cost and burden of this process for Estate Administrators (The Notifiers). TER’s Notifier offers a free, secure, online website that allows notifiers to enter all the decedent’s creditor information in one location and upload a death certificate which will be sent to all known creditors on the notifier’s behalf. The Notifier can be cobranded by the Creditor and used as a bereavement tool. By sharing The Estate Registry with the next of kin of the deceased account holder, it will help to build a reputation as a compassionate organization with friends and family members in such a difficult time.
The Estate Registry’s “Creditor” solution will register, validate, and report the death to all known creditors on the notifier’s behalf. Specialists will follow each case and work with the notifier and creditors to ensure all steps in the process are completed for each account. In addition to removing time-consuming burdens from grieving family members, this solution enables creditors to organize their data in a timelier fashion, apply the appropriate strategy to each account (whether a credit or debit balance), and assist Notifiers when they need it most.
To further simplify the notification process, TER’s Digital Lock Box (DLB) takes a proactive approach in organizing estate data by securely aggregating, digitally storing, and creating a centralized repository of a will holder’s creditor account information and passwords. This easy set up all takes place during the estate and will planning process, so at the unfortunate time of passing, the estate administrator’s responsibility of identifying and notifying the decedent’s creditors is simple and stress-free. The DLB automatically populates the Notifier edition of TER. Then, TER’s Creditor edition will provide the creditor with all the data points needed for their estate management team to expedite the resolution of the estate of the account holder who has passed.
Matthew Phillips, Co-Chairman/CEO commented, “Our 25 years’ experience in handling deceased accounts gives us a unique insight into the challenges faced by consumers in identifying and notifying creditors, and in dealing with the end-of-life administration of a loved one at a time when they are grieving. The Estate Registry and Digital Lock Box are exciting innovations designed to address these complexities and improve the consumer experience at this most delicate of times.”
Adam S. Cohen, Co-Chairman/CEO added, “PCA’s global reputation has been built on helping people deal with end of life account administration in a compassionate manner and we see The Estate Registry Notifier, Creditor & Digital Lock Box as natural extensions of our services. In this increasingly digitalized world, well built, and secure technology can simplify distressingly repetitive processes and we believe that this is every family’s prerogative.”
Paul Fiumano, SVP, Global Data Services stated, “It’s been truly fulfilling to build The Estate Registry, I know in my heart it will make the lives of bereaved consumers easier at such a trying time. I’m equally proud that while TER will prove to significantly streamline the estate resolution process for creditors, they can also demonstrate a new level of care and understanding with the decedent account holder’s love ones by utilizing TER as part of a compassionate bereavement strategy.”