iCasework, the case management providers, have launched the UsefulFeedback! Payment Protection Insurance (PPI) complaints solution.

PPI is a form of insurance that protects financial repayments on loans, mortgages and similar in the event of death, accident, illness, sickness, redundancy or financial insolvency. These policies have been placed under close scrutiny recently due to several high profile companies being fined by the Financial Services Authority (FSA) for the widespread mis-selling of Payment Protection Insurance. Indeed, in its 2009/2010 annual report, the Financial Ombudsman Service (FOS) stated that 30% of new cases referred to PPI.

Therefore, with the number of PPI claims and complaints on the rise and with a limited window in which the consumer can apply for redress, financial organisations need to be able to manage large volumes of PPI complaints in a condensed timeframe.

The UsefulFeedback! PPI complaint solution provides a web-based consumer questionnaire based upon the FOS’ own information capture form, ensuring an accurate, FSA-compliant collection of all relevant data. The questionnaire is designed to provide both the FOS and the organisation with all the required information to investigate the claim, and can be completed either online by the complainant or by a call handler over the phone. This information is then fed directly into the complaints database, removing the need for manual re-entry or data manipulation resulting in greater efficiency when capturing and processing the PPI information, as well as ensuring no sensitive data is lost or entered inaccurately.

UsefulFeedback!’s structured recording and progression of each individual case also provides the ability to report case progress to claimants and to the FOS if necessary. Progress can be monitored at every step of the process, with the solution also able to segment the customer information and generate the relevant correspondence in batches, in order to efficiently contact claimants en masse throughout the process by either post or email.

The UsefulFeedback! PPI complaints solution can be deployed specifically for capturing and recording essential PPI information, so as to ensure the complaints are resolved efficiently minimising the risk of escalation to the FOS, or as part of a fully integrated, end-to-end complaint and feedback solution for finance organisations.

Hans Grefte, Product Development Director for UsefulFeedback! comments, “PPI claims are a very emotive subject, making the efficient and precise progression of claims absolutely essential for financial organisations. However, many companies are either under-resourced or ill-equipped to manage the influx of complaints, or both, and are therefore risking being unable to fulfil the FSA’s requirements.”

Grefte concludes, “The new PPI complaints solution from UsefulFeedback! is extremely flexible as it can be deployed on-premise or on-demand. As a hosted solution, deployment is rapid with immediate access to the system on the day of sign up, with the ability to enable or disable licences as needed.”

(Source - CCR Magazine - Payment Protection Insurance (PPI) complaints solution launched by Usefulfeedback! iCasework Press Release)