Monday, 20 August 2012

Inheritance Tracing Agency

Inheritance Tracing Agency is a wholly owned Namibian Company, managed and operated by Namibians. Established in 2010, ITA specializes in finding beneficiaries and unknown heirs as well as the re-unification of assets, by providing pro-active search services to individuals, companies and the legal entities in Namibia

According to the founder Andreas Hamutenya, The Company’s services promote consumer education and serves as a consumer protector. Clients can buy these financial products and services without hesitation knowing that they will actually benefit from such products in events of re-location or even death. Financial institutions are also benefiting in terms of administration costs reduction as these institutions won’t be dealing with the issue of making follow ups on where-about of untraceable clients. By seeking out sources of misplaced assets in situations where heirs can not be identified or located, the company boosts awareness, confidence and trust among the general public with regard to financial products and services, and hence creating, enhancing and developing the Namibian financial sector and the whole economy at large. 

ITA also helps Insurance companies trace clients who have stopped paying their premiums without any notifications. On successful trace, such clients are notified or reminded of their insurance policies and help bring them on board again. This will help insurance companies minimize lapses, and also increase revenue as more money will be flowing in from these traced clients. Taking proactive steps, demonstrates a commitment to corporate governance and social responsibility, reinforcing customer perceptions of financial institutions’ brands, says Andreas.

In Namibian, it’s estimated that millions of Dollars in life insurance and other types of financial payouts goes unclaimed each year due to lost or unknown policies. Insurance companies may not even be aware of members’ deaths, and find it difficult to track down beneficiaries.  In response to this problem of unclaimed benefits, the company has launched a registry database where members of the public can register the names of financial institutions that have their financial assets. The main aim of the database is to ensure that members’ efforts to secure their families’ futures don’t go to waste. This provides members and their beneficiaries’ peace of mind, ensuring that members’ financial legacies are not lost due to simple human error, passage of time, re locations, buyouts, natural disaster, or lack of communication. Your life insurance company, bank or pension fund administrator’s name will always be located somewhere for your designated beneficiaries to find it.

The database will allow registering categories of accounts such as life insurance, safe deposit boxes, annuities, investment/bank accounts or even simply stating the lawyer holding onto their WILLS, or people appointed as their EXECUTORS/ESTATE ADMINISTRATORS, or just any inheritable assets on the database. Members’ information will be protected with physical and digital safeguards similar to those employed by banks to secure online banking transactions.

Member information is further secured by the fact that ITA does not ask for bank account numbers or insurance policy numbers, bank balances/values or types of investments or policies. With only a name of the clients' financial institution, a thief cannot penetrate these two institutions without proper identification. In other words, any information to be gained by breaching ITA security measures would be useless for purposes of identity theft or other types of theft or fraud.  Further information SMS ‘’info’’ to 95559 or email: visit Telephone (061) 225186.

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