PPI claims management is a competitive business. Using the best software can increase profits, boost performance and make running the business easier.
Since the announcement of the PPI claims deadline, the number of claims made to the banks is on the rise. Google saw searches peak in August for PPI claims and Lloyds recently reported that its staff are now receiving 11,000 claims a week — a figure it anticipates will remain this high until the deadline.
The Financial Conduct Authority (FCA) believes that the August 2019 deadline will encourage those who have not yet made claims to do so, and the recent surge in claims numbers appears to confirm this.
In addition to the deadline, the Plevin rule means more people are eligible to make a claim. The Plevin rule allows people to make a claim even if it was previously rejected if they believe that more than 50% of the PPI sale was a commission.
The Role of PPI Claims Management Companies
Consumers are able to make PPI claims themselves, but many are choosing reputable claims management companies to handle claims on their behalf.
Claims management companies are aiming to process as many claims as possible before the deadline. This means they require intuitive and reliable software which will make recording and processing claims simple.
Logican creates software for claims businesses to manage multiple claims on a daily basis. With our LogiClaim product working effectively, it allows claims companies to focus on other areas of PPI claims management and offer a better, more personalised service to each of their clients.
Software Designed For PPI Claims
There are a variety of claims businesses today, and PPI claims companies are just one particular business that has become seriously in-demand in recent years. The Logican software, LogiClaim, is used by some of the best PPI claims companies, offering features that significantly reduce the workload, such as automated follow-ups to both clients and banks regarding claims.
As well as managing claims, the Logican software is able to follow up with payments once a claim is successful. This includes a payment plan module so that clients can make payments in installments.
With data stored safely and a workflow established for each claim, businesses can focus on other areas PPI claims management.
Other Areas of PPI Claims Management Focus
Competition is high among PPI claims companies. If your software is managing claims efficiently, it allows more time to be spent on other important elements of the business, such as:
- Marketing – While many opt for traditional marketing such as TV and radio adverts, online marketing is an increasingly popular option. Households spend more time on the internet than watching TV, so this means focusing on digital marketing is a key priority for businesses.
- Customer Service and Retention – Customer service is important for every business. Keeping the customer happy is essential in competitive markets. Easily accessible online reviews mean that people can check customer service instantly, allowing companies to keep customers happy at all times, which is imperative.
Using PPI claims management software that sends automated updates to clients means that customers will be kept up to date throughout their claim. Their case can easily be accessed if they call to inquire, keeping customer satisfaction high.
In such a busy time for the industry, PPI claims management software makes managing claims simpler for businesses. It allows claims companies to manage cases efficiently, meaning businesses can focus on getting the best results for clients.
Logican’s LogiClaim software has helped countless PPI claims management companies handle more clients and increase profits. Request a free demo of LogiClaim to enhance your workforce today.
