Many people are unaware how to claim PPI. Claims management software has helped companies reclaim PPI on behalf of thousands of customers.
The PPI saga continues to make the headlines, years after the mis-selling scandal first came to light. In recent news, an 87-year-old woman had her signature forged by a bank employee to buy PPI.
The Financial Conduct Authority (FCA) publish regular updates detailing how much the banks have repaid customers. In December 2017, the banks repaid over £366 million to customers. This figure pushes the total amount repaid by banks to nearly £30 billion.
The PPI deadline is set for 29th August 2019, yet many people are still unsure about how to claim PPI. In cases where the banks have been taken over or the company has dissolved, people have been left confused about who to contact.
Logican creates bespoke claims management software which makes handling claims simple. Many of the best PPI claims companies use claims software to process the high number of PPI claims.
How Does Claims Management Software Work?
PPI companies are using claims management software to process claims on behalf of customers and win compensation for the mis-sold insurance. This software has been developed to handle claims on a large scale. All data is kept securely and each claim is kept up to date with developments when the bank or lender responds to a claim. The software also sends automated updates to customers to keep them in the know about a claim — a feature which reduces the need for follow up calls from customers.
The user-friendly interface makes claims software easy to use for employees and allows employees to focus on customer care, rather than menial tasks which the software can handle.
Claims management software is available for other claims companies, too. The intelligent software is adaptable for flight delay claims, mis-sold mortgage claims and packaged bank account (PBA) claims.
How to Claim PPI
All PPI claims need to be made before 29th August 2019. For this reason, claiming PPI should be a high priority for anybody who believes that they may have been mis-sold the insurance.
The first step is to find the paperwork from previous accounts or statements which prove that you had PPI. If you no longer have the paperwork, you can find this information from a creditor or PPI claims company.
The next step is to make a claim — once you know who to contact. Often there is confusion about who needs to be contacted in regards to store cards or banks which no longer operate. If you search online, you should be able to find this information. If you aren’t sure who to contact, the FCA may be able to help, or a reputable claims management company will know.
When making a claim, you must state how the PPI was mis-sold to you. Common experiences of mis-sold PPI highlight that the policy was often made to appear mandatory, or the terms and conditions were not fully explained.
The bank should reply with an outcome within eight weeks of receiving a PPI claim, but it has been known to take longer. The bank should keep you up to date with the progress of the claim.
Many consumers choose to use a reputable PPI claims company to make a claim on their behalf. The best claims companies use Logican’s claims management software. Using a company with this software means you can expect automated updates about your claim and know that your personal details are safe.
Logican’s claims management software is used by reputable PPI claims companies. Request a free demo of the software for your claims company today.
