Analysis

Complaints handling not up to scratch as complaints volumes soar

By 2024-04-22T07:00:00

complaints (5)

Consumer Duty has placed a greater spotlight on complaints data, however findings for UKGI show that ‘more than a third of cases’ are being overturned by the ombudsman

The FCA’s Consumer Duty regulation, which came into force from July 2023, has put an even greater emphasis on insurers ensuring good outcomes for their customers.

However, exclusive analysis of Financial Ombudsman Service (FOS) complaint figures by market intelligence business Insurance DataLab instead revealed a gloomy picture of industry performance.

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