Aptean Respond
Eric Insurance Underpins Complaint Handling Excellence and Regulatory Compliance with Aptean Respond. Industry Insurance
Challenges
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Introduction of RG 271 meant new compliance demands Incumbent complaint management system lacked adequate workflow and reporting Logging complaints was time consuming and error prone
Benefits
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Robust compliance with RG 271 Access to meaningful, contextual management information reports Simpler, automated way to record and resolve customer complaints Staff empowered to handle customer dissatisfaction more easily
With over 20 years’ experience in the automotive insurance industry, Australian-owned Eric Insurance is a leading general insurer with a real focus on delivering quality products, customer service and long-term relationships.
An Evolving Complaint Management Landscape The introduction of RG 271, which requires all Australian financial services firms to have an internal dispute resolution (IDR) system in place that meets ASIC’s standards and requirements, led Eric Insurance to review its existing complaint handling process to see just what would need to change to ensure compliance. In light of the increased pressure on the organisation to evidence compliance and a potential increase in the number of customer complaints to be logged, investigated and resolved, the review highlighted some limitations with the incumbent complaint management system. As John Sculli, chief risk officer at Eric Insurance, explains: “When we put it under the microscope, key functionality was missing. What we didn’t have was explicitly what was required for RG 271 compliance. There was a lack of workflow and reporting; manual controls were required to ensure complaints were managed within ASIC guidelines and timeframes; the daily bespoke business intelligence (BI) report was susceptible to human error, and the system didn’t support the analysis of complaints data needed to identify thematic issues or opportunities for continuous improvement.”