Throughout the past 3 years, Grovelands has witnessed and reacted to developments in PPI. We sat down with director Mark Davies and Team Leader Matt Roff to gather their thoughts on the changes.
Throughout July we are exploring the impact of PPI, and how developments have caused changes with our client requirements. Since Grovelands was established over 3 years ago, it is relevant to identify what we have seen first-hand over the years and how this has affected us.
We caught up with one of our founders and directors, Mark Davies, to ask a few questions about these developments:
What changes have you seen over the past couple of years that you think will, or have, affected Grovelands and our clients?
“The growth in claims management companies has been staggering. During the pensions review in the mid 90s they were unheard of; during the endowment review of the early 2000s they started to be seen. Now it is a major industry and drives a large number of claims.
Because of the size of the PPI review we have seen lots and lots of new people enter the industry. I hope we can retain them. Review teams have become increasingly professional; it is now part of a career, not a dead end.”
What are your predictions for the future of PPI?
“That there are about 18 to 24 months of work remaining and that the FCA will intervene with firms where they do not deliver.”
We also sat down with Matt Roff, the Team Leader for our Specialist Delivery team, who shared his thoughts with us:
What are the major differences you can see over the last couple of years of recruiting for PPI roles?
“Initially we would receive large PPI requirements for case handlers, QAs and TLs. Clients were taking on batches most weeks to handle the high volume of complaints that they were receiving. We saw more of a focus on upholding the complaints in order to reduce the volumes, however, nowadays our clients take a much more holistic full review approach to the complaints handling process. Therefore, the skills required to handle the complaints have developed alongside the process.
We then saw a shift towards more specialist roles in order to rewrite policies and procedures and review how the complaints were dealt with. Whilst the number of new PPI complaints is now steadier than before, I believe we will see more remediation projects starting in order to review how the complaints were initially dealt with in line with new procedures.”
How has Grovelands changed to deal with these differences?
“Grovelands has had to react and develop alongside the changes in PPI. The number of resourcers needed to meet the clients’ requirements rose throughout last year. The amount of work coming in meant we were able to create specialist teams to deal with varying business areas to enable the resourcers to know their market and the products within it, and create strong pipelines to ensure speedy and appropriate delivery.”
Being able to adapt to these changes in order to deliver effectively has been very important within Grovelands and, regardless of what the future holds for PPI, we feel confident that we are ready for it.