Past business review and remediation

Past business review (PBR) exercises can pose significant regulatory challenges. These requirements often originate as a result of regulatory scrutiny, or the prospect of FSA enforcement action, and, as such, the potential for regulatory censure is high. That said, where performed effectively they can drive increased advocacy and retention.

Delivering customer liaison and past business review / remediation solutions has been at the core of Huntswood’s business for over twelve years. Our blend of regulatory consultants and customer services delivery expertise ensures operational excellence within a review framework built upon our extensive industry and regulatory insight.

Huntswood has undertaken a wide range of PBR engagements covering:

• Payment protection insurance
• Pensions and investments - including structured capital-at-risk products (SCARPS) and precipice bonds
• Mortgages and mortgage endowments

Huntswood provides an objective review of ‘legacy’ policy sales, to identify and remedy instances of mis-selling. Huntswood will tailor the review methodology to ensure the work, and subsequent outcomes, satisfy both internal policy standards and regulatory expectations.

Huntswood’s PBR proposition represents a full end-to-end service, covering five key elements:

1. Scoping, preparation and implementation - Developing the operational infrastructure, including training design and delivery, policy and process design and mailing strategy
2. Mailing administration - Undertaking staggered mailings to customers and delivering the gone-away skip-tracing / chase process
3. Contact centre - Fully operational multi-channel contact centre, handling (or referring) queries prompted by the mailings on a ‘right first time’ basis
4. Case investigation / redress - Utilising qualified industry professionals to undertake the review work, led by experienced managers with specialist quality control and technical experts supporting delivery
5. Governance, quality and compliance oversight - Ensuring all components of the end-to-end delivery model are performed in accordance with both the client’s policies and regulatory expectations

We provide our clients with a scalable operating environment, supported by robust processes and procedures. This ‘turn-key’ solution minimises the burden on the client, employing Huntswood’s specialist knowledge to ensure the requirement is effectively set-up, delivered and decommissioned – giving the client contractually committed outcomes resulting in greater certainty of cost and deliverables.