PPI can be a challenging sector, but with changing environments and regulations, the challenges are growing. We’ve highlighted the most common PPI case handling issues here, so firms are confident that they’re working with the changes and keeping quality secure in a high-risk industry.
1. The route to competency
Becoming a PPI case handler isn’t easy. Not only do you need to have a very particular skillset, but the route to competency can be prolonged, and once they reach that stage, PPI case handlers have targets that they must consistently hit if they want to be successful in the role.
New PPI case handlers start out with classroom-based training before they’re put with a buddy handler who oversees their work and decides when they’re ready to train on practice cases. By the time the case handler is ready to work on real cases, they’ll need to be hitting a certain level of quality and productivity, delivering a specified number of cases consistently per day.
2. Getting feedback from QCs
As PPI is a fairly complex remediation exercise, firms rely on Quality Control (QCs) to analyse cases and report back with any areas that need improving. If the chain of reporting is broken at the QC end, due to reports not being delivered on time, important information won’t be received, and quality can slip.
In some cases, a firm will have their QCs working on a different site, and have reports delivered by email, which might go unnoticed. Since the QC delivers their quality reports case by case and in batches, if one particular case report is missed or not received, this can mean that PPI case handlers are unaware of any potential ongoing risk.
3. An ever-changing environment
The PPI sector is constantly evolving to meet FCA regulations, and in the last year alone, the FCA has set a deadline for all PPI cases to be received by 2019. This means that the quantity of PPI cases will dramatically increase over the next year, and case handlers will have to work to meet the growing demand.
4. Regular guidance and regulation changes
The FCA are constantly working to improve regulations, particularly surrounding PPI which is a £50billion market, and with complaints for PPI being the highest of the financial services sector, the FCA and Financial Ombudsman have been assessing cases and making changes to regulations.
In particular, the Plevin case, spurred the FCA to change the rules on applying for PPI, by allowing customers to raise complaints over how much a firm made in commission on their PPI offerings. This has increased the amount of complaints and changed the way complaints are processed.
5. Internal processes changes
Due to these many external changes, PPI case handlers have had to change the way they work internally too. For example, firms have had to split their workstreams into two to cater to the new types of complaints over mis-sold PPI.
Where before, there was just one type of mis-sold PPI, for customers who feel they weren’t eligible for the type of insurance being sold, there is now the separate issue of customers who might have been eligible, but feel that the PPI commission was inflated after the publicity brought by the Plevin case.
All of this makes the job of a PPI case handler all the more difficult, and firms will have to evolve to meet the new demands. Grovelands can help support firms with sourcing skilled case handlers who are aware of these growing challenges and can help firms to overcome them.
We have also partnered with a predictive hiring software company to establish the specific skills required for a successful PPI Case Handler based on research carried out by us at the end of last year. If you manage or oversee a PPI Complaint Handling operation and would like to understand the inherent behavioural traits of high performers in greater detail, please complete your details in the form below and we’ll email you a copy.