Traditional existence checks are expensive, time-consuming and obtrusive. However Tracesmart Corporate have developed a fresh suite of innovative existence checks to meet todays pension scheme needs.
- Existence Search Individual existence checks, conducted through our online interface
- Existence Batch Conduct high volume existence checks
- Existence Alert Continuous, automated existence monitoring system
Our existence checks combine two important tools a residency verifier and mortality screening.
Verify Residency
Tracesmart Corporate existence checks verify residency and highlight gone aways by utilising a multitude of datasets; such as current and historic Electoral Rolls, BT OSIS, the Postal Address File (PAF) and the Royal Mail gone away database. This allows you to:
- Confirm member residency
- Flag gone aways
- Cut costs on member communications
Mortality Screen
Being the first company to be licensed by the General Register Office (GRO) to employ their Death Registration Information (DRI) for fraud prevention purposes, our existence checks utilise weekly updates of official death registrations. In addition to the GRO death records our existence checks also call upon our mortality fraud dataset, Halo, enabling you to:
- Identify potential fraud
- Reduce administration costs
- Reduce overall scheme risk
Existence Search
Our web-based interface allows you to manually conduct an existence check to identify mortalities and gone aways instantly simply enter key personal details and search.
Key Benefits:
- Identify mortalities instantly
- Conduct an existence check 24/7
- Maintain a full audit report trail
Existence Batch
The most efficient way to conduct high volume existence checks is via our Existence Batch screening solution. In addition to verifying residency and mortality screening, this method also correctly formats and appends key missing personal information such as forenames, telephone numbers and dates of birth.
Key Benefits:
- Cut costs on traditional existence checks
- Manage your scheme effectively
- Run existence checks on your entire member database swiftly
Existence Alert
Approximately 12,500 new deaths are registered in the UK per week and 1 in 10 people move house each year, so you need to conduct existence checks as often as possible.
Existence Alert continuously runs automated existence checks for deceased members and gone aways on a quarterly, monthly or weekly basis. It then generates and emails you a tailored Existence Alert report allowing you to take direct action.
Key Benefits:
- Automated existence checks with mortality and gone away notifications
- Eliminate potential overpayments and associated tax implications
- Protect your fund from fraud
Protect your scheme from fraud and overpayments contact Tracesmart Corporate.
