In April, the FCA published its latest set of complaints data, allowing firms to compare their performance in the market and provide consumers with an additional source of information about FCA regulated firms.
The FCA’s latest findings include:
In 2021 H2, financial services firms received 1.84m complaints, 10% lower than in 2021 H1 (2.04m).
The insurance and pure protection product group saw the largest decrease in complaints received by firms: from 890,000 complaints in 2021 H1 to 770,000 complaints in 2021 H2 (11%).
The decrease in insurance and pure protection complaints was not driven by the drop in complaints about Payment Protection Insurance. Instead, it was consistent across all products.
There was also a noticeable decrease in home finance complaints (14%), investments (29%) and decumulation and pensions (16%).
Complaints handling is just one way that PPL clients benefit from the use of Artemis, our compliance web application. Artemis allows firms to keep all regulated and non-regulated complaints in one system for a complete picture of customer dissatisfaction. The system can be used to get the right help from PPL, self-manage your regulated complaints, use pre-populated letter templates, or use the clever built-in messaging system.
To find out more about Artemis and how PPL can support your business, get in touch today.