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Insurance and Protection

Facilitating fairer outcomes

As a result of regulation and product complexity, up until a few years ago, the UK Insurance Market had evaded technological and digital change. Digital innovators and disrupters, after transforming books and music publishing, shopping and travel, turned their attention to banking and wealth management. Inevitably, through the advancement in technology and related services, the Insurance sector is now having to come to terms with the abundance of opportunities that the digital era brings.

These breakthrough technologies create new opportunities, enabling new products, services and distribution channels, including wins for the consumer by providing clearer, transparent information, especially in relation to product features and pricing. However, legacy issues still exist and with the ramifications of the mis-selling of Payment Protection Insurance (PPI) still being felt and set to continue after the recent “Plevin” ruling, there are continued thematic concerns in relation to the fair treatment of customers.

The introduction of the Insurance Distribution Directive (IDD) in October 2018 will help to reduce conflicts of interest which has been inherent to the sector. Complex layers of brokering, processes, commission structures and a lack of transparency in customer transactions have been key drivers in customers being exposed to unsuitable low value products which has resulted in increased complaints volumes being experienced across many personal product lines.

Rectifi’s Complaint Handling and Customer Resolution Services provides expert, qualified and experienced resource for investigating and resolving customer and 3rd party complaints and disputes ensuring superior customer experiences and fair outcomes. Our resources are typically deployed to provide support with customer complaint contact and acknowledgement, root cause, letter writing, maintenance and updating of the complaints log, file collection and scanning all within FCA guidelines and timescales.

If you would like to learn more about how the experts at Rectifi could help you, please get in touch.