The opening up of the National Population Registry has made things easier for funeral policy claimants as they no longer need to scramble around for the death certificate in order to submit it to insurers. The insurers themselves can access the death certificate much quicker from the National Population Register.
The opening up of accessibility in the Home Affairs’ National Population Registry has been praised as a progressive development by insurers.
FNB Life, the insurance distribution and administration arm of First National Bank (FNB) says being granted access to the Department of Home Affairs’ National Population Registry is significantly benefitting its funeral policyholders and their beneficiaries.
Lee Bromfield, CEO of FNB Life says this has been an important development for the insurance industry and consumers in general. “The collaboration helps us to efficiently monitor funeral insurance lapses and also reduce identity fraud. It is now easier to check if policyholders are deceased or alive, and once we establish that a policyholder is deceased, we proactively contact the listed beneficiaries to process their pay-out.
“We have identified approximately R2 million in potential claims that beneficiaries haven’t submitted, and of those we could contact, R300 000 in claims has been paid to beneficiaries who didn’t know their loved ones had funeral policies with us.”
“Currently, half of our claims are being paid within a day and we have drastically improved the detection of fraudulent claims. In less than a year, we have prevented fraudulent claims worth over R700 000 through this collaboration and other internal measures.”
Bromfield says even though FNB Life can now use the Registry to verify certain information, it is important for policyholders to keep updating their contact details and those of their beneficiaries. He says up-to-date contact numbers and email addresses are crucial in ensuring that that policies are paid-out faster, to help families avoid financial distress.
The opening of access of the National Population Registry can be seen as part of a broader movement in public services towards e-governance. One other remarkable move on this front is the development of government central supplier database (CSD) which creates a one dynamic stop shop interfacing systems from Home Affairs, South African Revenue Service (SARS), BBBEE, tender data from different departments. This development will make life easy for enterprises doing business with government while closing loopholes for corrupt dealers.
This piece was lifted from our sister publication ujuh.co.za