Optimizing Probate Recoveries Through a Modernized Approach

At a Glance

As part of its probate claims process, a top Canadian bank relied on a single individual to manage cases reactively, leaving most deceased accounts unaddressed. Other challenges that the bank faced were the absence of a proactive process, limited resources, restrictions on outsourcing, complex regional probate laws, and strict data-sharing requirements.

Phillips & Cohen modernized the bank’s approach with a tailored technology platform that integrated seamlessly and compliantly with the existing system, ensuring secure data handling. The new model increased monthly placements fourfold and improved deceased-portfolio liquidation rates sixfold.