Press Release

ABI customer impact report: progress made but challenges remain

Thursday, July 24 2008

The ABI Customer Impact Panel publishes its second Annual Report today (24 July 2008).  This year there has been encouraging improvements in customers’ perceptions of the industry with over half (53%) of customers agreeing that the industry has an excellent reputation, compared with 48% last year. 

However, the Panel has made several recommendations for next year to align the Scheme with Treating Customers Fairly and to achieve better outcomes for the industry’s customers.

 Melanie Johnson, Chair of the Customer Impact Panel, said, "The Panel’s first Annual Report received a very positive response from the ABI Board, and the Panel has been pleased to see how our recommendations have been followed-up. Considerable work has been undertaken over the past year, both at industry and individual company level, which demonstrates a high level of commitment to the Scheme."

"However, there is more to do. The Scheme’s long-term objective is to improve outcomes for customers, and the good work that has started must be built upon to achieve this. We’re recommending that firms review their complaint handling processes to ensure improvements continue, and that the valuable insights complaints provide are captured and acted upon.

"Many company reports on progress had improved this year. We’d like to see all firms striving to emulate the best examples that we saw. We are pleased that our recommendations will be taken on board by the ABI and its members."

Stephen Haddrill, the ABI’s Director General, said, "The Panel’s oversight is a vital part of the Customer Impact Scheme. Its Annual Report helps us to develop the Scheme to ensure that the industry improves what it delivers for customers.

"We are pleased that the Panel acknowledges the work that has been undertaken over the past year, and we value the Panel’s input on the areas where we need to improve. We will work with our members in the coming months to implement its recommendations."