What PPI Software do Claims Companies Use?
PPI software helps claims companies to process high volumes of claims efficiently. Which software enables them to achieve the best results?
For claims companies to run their business effectively, they require PPI software which will streamline their day-to-day tasks. Finding PPI software which fulfills all of the specifications can be challenging.
The claims management regulator regulates hundreds of claims companies. With so many PPI claims to be made, the claims market is highly competitive. Only those claims companies using the best PPI software will be able to keep up with the demand for claims.
The demand for PPI claims is high at the moment, with the PPI deadline now only a year-and-a-half away. Claims companies are receiving up to 100 claims per day. Handling such a high volume of claims means the software needs to be working smoothly to process and manage all the claims. We look at the features PPI software requires to manage claims and which PPI software is popular amongst PPI claims companies.
What features does PPI software have?
The best software will include all of the following features to manage the day-to-day running of the claims company.
- Automated communication with banks and clients – Dealing with 100 people per day means contacting banks and lenders on a daily basis. Software which has automated follow-ups and updates means taking pressure off staff to do this, creating a seamless communication process.
- Self-customisable to fit business needs – Every business is different, so allowing for personal customisation within software makes the software suit the unique requirements of any company.
- Takes note of incoming correspondence – When the bank replies to inquiries, the automatic follow-ups will be cancelled and the claim will be updated. This technology means businesses no longer need to update claims when new information is received.
- Preconfigured Financial Ombudsman (FOS) questionnaire templates – Many PPI claims cases are referred to the FOS. The Ombudsman is dealing with a tremendous number of claims at the moment, meaning it can take two years for a case to be resolved. However, if a customer believes that the bank mis-sold PPI to them, referring the case to the FOS can result in a positive outcome and compensation.
- Check the history and status of each claim – With all of the information safely stored in the software, it’s simple to check the status of a claim and look at the history of the claim. If a customer calls to check what’s happening with their claim, easy access means the very best customer service.
- Keeps data safe and secure – Security is of the utmost importance to both businesses and customers. The software will be kept up to date, meaning data is secure at all times.
These features are all important for PPI claims companies handling a large volume of claims. Without these features, claims companies would not be able to manage the number of claims that they do.
Which PPI software is the most popular?
The PPI software from Logican, LogiClaim, is used by countless PPI claims companies as they seek to handle as many claims as possible before the PPI deadline. Our software has been created to be the most efficient for PPI claims companies.
We allow each business to personally customise aspects of the software and add extensions. This helps to run the business more effectively and generate greater profits.
Logican has created PPI software to enhance profits and efficiency for PPI claims companies. Request a free demo to find out how it can benefit your claims business.