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Apr 29, 2021, 03:00pm EDT | 3,900 views

Digitization In Deathcare
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By Caroline Capponi

For the past several years, deathcare has been going digital. The pandemic has accelerated this ... [+]
GETTY

Several trends have been dramatically accelerated in the wake of COVID-

19:  
 Cremation rates, which were already on the rise due to burial plot
prices and scarcity, surpassed traditional burial in 2015 and
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skyrocketed during the pandemic. Barbara Kemmis, executive
director of Cremation Association of North America indicated, “In
some areas, particularly in hotspots, the number of cremations has
tripled or quadrupled," and added that crematory machine
manufacturers in her group report unprecedented sales and can't
keep up with demand.

Consumers are seeking to honor those they’ve lost in more personal

and meaningful ways. Families view commemoration as a valuable
part of the grieving process and crave meaningful options that reflect
how unique their loved one was. This trend has resulted in an
explosion of unique products and services that reflect the passions
and hobbies of the individual who has died. 

Pre-planning, or planning for death in advance of actually dying, is

also on the rise. During the pandemic, individuals in younger
generations face death more directly than they otherwise would. An
increasing number believe that preparing for the inevitable in
advance is pragmatic, and they are looking for options to plan their
own passing and service, or a family member’s, to both relieve
pressure on their family and ensure it will be as unique as the
individual being remembered.

These desires and needs are increasingly being met through technology,
shaking up an industry projected to reach revenues of $68 billion by 2023 in
the U.S. alone. Investors are beginning to take notice as this behemoth
market is disrupted by a growing number of startups popping up in the
space. 

This trend has resulted in an explosion of unique products

and services that reflect the passions and hobbies of the
individual who has died. 
Funeral homes, previously mom-and-pop shops that marketed only through
word of mouth, are beginning to go virtual. Consumers who previously BETA

would phone a friend to ask for recommendations can now go online and
look through funeral homes and cremation services in their area. Traditional
services increasingly integrate memorial videos with photographs to make
their services more meaningful. Funerals can even be live broadcast to
accommodate those who cannot travel or mourn together due to location or
pandemic restrictions.  

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From a back-end perspective, software companies like Passare and

FrontRunner, which simplify funeral home operations, are growing as
funeral homes increase their need to operate more efficiently to keep up
with personalization demands. As the need for efficiency increases, so does
the need for digital tools that streamline operations and keep things
organized.  

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For consumers who want to pre-plan, a wide variety of companies now offer
innovative methods to help. Lantern is a funeral planning company that
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features a checklist guide to walk users through death preparation.
GoodTrust enables you to create a plan to secure your “digital assets” such as
social media pages, email accounts, and other online accounts that can be
executed after you pass, while Trust & Will brands itself as the TurboTax for
advanced estate planning. 

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While you cannot cremate online, there has been a growing trend toward
“direct cremation.” Solace Cremation and Economy Cremation are two
companies that manage all aspects of cremation – from picking up the body
to delivering ashes and death certificates. These companies manage
cremation similarly to other direct-to-consumer companies – they cut out
the middleman, operating with more efficiency and at a lower price point.
This D2C direct cremation model represents a dramatic change from the
status quo. Traditionally, regardless of where they are located upon death,
bodies are most often taken to a funeral home, which then becomes the
central hub of all end-of-life services. 
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Funeral expenses are surprisingly one of the largest costs incurred in a lifetime. GETTY

The market has also seen the advent of new technologies used to enable and
support the post-cremation and cremains businesses. These cutting-edge
operations exist completely online. For example, through Eterneva, you can
send a loved ones’ ashes to Texas and have them returned to you as a
diamond ring. Using Bios Urn, another recently founded death-tech
company, cremains can be turned into a living tree and planted in a
meaningful location.

At the intersection of these new businesses is RestEasy, an online platform

launching in May that enables customers to search for meaningful
commemoration options like those listed above and “register” for these
items, seeking financial support from their community just as they would for
a wedding registry. Funeral expenses are surprisingly one of the largest costs
incurred in a lifetime, and technologies that enable grievers to defray these
costs are gaining traction.   

Funeral expenses are surprisingly one of the largest costs

incurred in a lifetime, and technologies that enable grievers
to defray these costs are gaining traction.   

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The implementation of technology in deathcare changes the very fabric of
the industry. New end-of-life solutions as well as upgrades in backend
software are enabling greater efficiency and customization in tired, typical
processes. These technologies are fundamentally augmenting consumer
behavior, changing the way individuals think about what comes after death,
and bringing new life to grave situations. 

Caroline Capponi (’21) is a Columbia

Business School candidate. Prior to
earning her MBA, she was a
management consultant leading large-
scale healthcare strategy
transformations. She is a CPA and
brings a uniquely analytical lens to
business challenges.

CAROLINE CAPPONI ('21)

Follow me
on Twitter or LinkedIn. Check
out my website. 

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