We are delighted to announce that Insurance DataLab subscribers can now access FCA complaints data covering the last three years.
The latest figures from the regulator revealed that insurers received an average of 4.32 complaints per 1,000 in-force policies over the second half of 2021, down from 5.98 for the same period a year earlier.
On average, some 49% of these complaints were upheld in favour of the customer with redress totalling £64.5m paid out over the final six months of 2021, up from £48.9m during H2 2020.
Insurance DataLab subscribers can view complaints performance by company and product line (with data on more than 125 companies), make meaningful comparisons against their peer group and market averages, and identify areas for improvement.
If you are interested in finding out more about the industry’s performance on complaints handling, as well as exploring the other data available on the hub, then you are now able to access a free trial of the platform.