Experian launches PPI claims management service
Allows providers to manage PPI claims efficiently
14 September, Nottingham, UK – Experian®, the global information services company, today announced it has launched a set of new services designed to help financial services organisations manage Payment Protection Insurance claims efficiently and to identify likely claimants.
Experian’s new Claimant Registration Service offers secure registration and real-time electronic customer identity verification to allow financial services companies to quickly verify claimants. It also gives companies the ability to reduce costs, ensure genuine claims are processed more quickly as well as identify potentially fraudulent claims.
In addition, financial services organisations can submit back-books of customers to Experian to identify individuals and validate them against any exemptions and exceptions, while also updating customer information and contact details. Once identified, Experian helps providers prioritise cases and ensure each customer is handled according to their individual circumstances.
Experian’s redress service also validates a customer’s bank account details at the point of payment of any PPI premium refund, mitigating the fraud risks associated with cheque payments.
Jonathan Westley, Managing Director for Experian Credit Services at Experian commented: “Financial services organisations need to ensure claims are resolved quickly. Experian’s mix of consumer data, market leading authentication and customer management tools means it’s best placed to help providers manage current PPI claims and identify potential claimants to improve the claims management process.
“Industry figures suggest that up to 20 per cent of PPI claims coming through ‘no win no fee’ PPI claims management companies are speculative or even fraudulent*. Experian’s Claimant Registration Service helps organisations root these out, allowing more time to be dedicated to resolving legitimate cases.”
*Source: Huntswood (www.huntswood.com)
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com .