UK Insurer - Past Business Review

Client Issue

A large UK insurer needed to review its it’s non-advised annuity sales following the FCA’s Thematic Review. The review covered a proposed 70,000 cases and lasted twelve months.

PwC Approach

Due to the large population and the vulnerable demographic involved in the review, PwC utilised its technology experts to conduct a data analytics exercise that divided the customers into a number of different groupings or cohorts.

This segmentation process minimises the number of customers that require contact and ensures that bespoke customer treatments are developed which are tailored to our customer’s varying circumstances and requirements.

The review was conducted in PwC’s state-of-the-art secure delivery centre in Belfast by PwC staff who conducted the end-to-end review of the defined population. This involved compliance assessment reviews of both written and verbal communications to determine if financial detriment occurred. In order to ensure we provided as much support to the vulnerable customer group, a PwC helpdesk was set-up to help customers navigate our review.

Outcome and benefits to clients

PwC’s extensive industry experience has been utilised to develop policy papers, quality frameworks and remediation methodologies that efficiently deliver all customer segments to meet the requirement of the client and the FCA-appointed Skilled Person, in a customer-centric manner.

Contact us

Mark Hollebon

Mark Hollebon

Director, Customer Management, PwC United Kingdom

Tel: +44 (0)7525 280911

Follow us