Spotlight on Kinherit
Date: 07 May 2024
Author: Maximilian Jany
Kinherit focuses on the wills and inheritance market, in which 7 trillion USD pass down every year, often haphazardly. Kinherit aims to provide a database of assets, the “Kinvault” to assist inheritors with finding inheritance assets, such as bank accounts, that may otherwise get lost.
The Kinherit solution
The primary consideration with Kinvault is to provide a solution to assets getting lost on death. It aims to provide a simple and easy vault, including things such as utility schedules and accounts, details for property maintenance, and really anything that may benefit inheritors.
Included in this solution, is the ability to set situational permissions, notably who gets notified with what and when (on death, access now, etc…).
The Kinherit B2B2C approach
Having been tested for over 5 years by 3,000+ users, Kinherit is the largest will-writer in the UK for clients of regulated financial advisers. As part of this B2B mindset, Kinherit are working with financial services companies to be a global “deathtech” leader.
The new Kinherit system, fully owned by Kinherit, with banking standard security levels (UK Standards audit) aims to partner with financial institutions and take on their clients as part of the financial services offered.
The aim is for clients to develop peace of mind and allow asset management institutions to show care for their clients, while also assisting banks with not losing assets.
Regulatory issues
Kinherit owns the entirety of their Intellectual Property, and take on the clients of the financial institutions as their own for regulatory reasons, as such, the Kinvault assists the bank with cementing and retaining assets under management, and possibly acquire additional clients when the inheritors witness Kinherit’s simple and clear process.
Kinherit’s business model
Kinherit, while still a fintech start up, as a will-writing service is already profitable, and Kinvault has grown out of this, underpinned by Kinherit. Aimed at wealth managers, Kinherit is already trusted from an advice perspective, being the largest will-writer in the UK, and expanding into a market without significant competition.
As such, Kinherit stands to expand operations while already being a known actor and having pre-established business relations with financial advisory services.
More information on Kinherit is available on their Website.
You might also be interested in
