Chapter 8 Flashcards
Keeping records & managing workloads
Why is keeping records of communications important?
- So that anyone who was not part of the conversation can know what took place, understand what information was exchanged and what actions were agreed.
When kept accurate, the customer receives excellent customer service through:
* a seamless/ efficient process as staff are kept up to date
* their needs being met as all information is being accurately recorded
What constitutes a record?
- Emails, letters or faxes
- A recorded phone call
- A file note following a conversation that was face to face or over the phone (this can be paper or on the computer)
How should emails/ letters/ faxes be filed?
Copies should be kept on file as provides a true reflection of the exchange of written communication. When this is done electronically, this should be linked to the relevant file.
How should conversations either face to face or by phone be filed?
A note should be added to the file detailing accuratley the conversation that took place. Whilst calls are recorded, they should only be listened to to understand exactly what was said and therefore notes should be used first to prevent any delays for the customer.
In some cases, an internal process may not require a detailed note to accompany the task as it is basic and may only require a comment instead - e.g. creating a quote.
What are the challanges of making notes of phone calls/ face to face communications?
Time or operational pressures may not allow for a detailed note to be created and it can be difficult for two peoples version of a conversation to be consistent.
How are formal meetings filed?
The level of recording for the content of meetings will vary depending on the systems and processes of the organisation. This could be minutes or a standardised form completed in the meeting.
What details should be captured in a record of a conversation?
- Date
- Organisations reference - such as policy or claim number
- Customer’s reference
- Name of the other party
- Policy holder name
- Summary of key points - reason for call, action taken, information obtained, agreed outcome and next steps
- Signed and dated
What are some examples of when a set template is used to record a conversation?
- Demands and needs statements
- Proposal forms
- Claim forms
What are the benefits are keeping accurate records?
The presence or absence of an accurate record will have an impact on what?
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- Customer service
- Positive customer outcomes
- Efficiency of the organisation
- Fulfilment of legal and regulatory obligations
- Organisations finanical position
- Resolution of complaints
How is customer service improved by keeping accurate records?
- Seamless orcess from the customers perspective
- Staff take ownership and accountability as their steps are traced
- An orgnaisations obligations to keep audit trails are met and;
- must ensure customer needs are analysed and detailed
- provide customers with clear information and keep them appropriatley informed
- make sure where advice is provided that it is suitable and accounts for the customer’s circumstances
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Complaints handeling is improved as is easier to determine the timeline of events from clear notes.
-FCA requires that all correspondence and file notes relating to a complaint must be kept for a minimum of 3 years
How long does the FCA say that files in relation to a complaint must be ketp for?
3 years
What are the concequences of not keeping accurate records?
- Impaired processes it will take longer for the customer consultant to assimilate the information and the quality of information may be low quality or incorrect.
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Complaints as a result of:
-incorrect products being sold as not all of the customers needs were recorded
-breaches in good faith where information supplied by a customer is not recorded and so is not passed on to the underwriters
What are 3 concequences that an organisation may face is customers information is not kept confidential?
- Disciplinary action and fines due to breaches of law and regulations
- Damage to reputation
- Reduced new business and customer loyalty
What does the data protection legislation give individuals regarding their information?
Protection under the law if an organisation loses, discloses without authorisation or retains inaccurate information about them.
i.e the organisation must protect the confidentiality of the information they have about any individual.
What are the concequences of not maintaining client confidentiality?
Financial
-time taken to investigate the initial loss and the staffs time in doing so
-time and legal costs of dealing with prosecution
-costs of business lost or not gained as a result of a case
Brand and repuation
-prosectutions may be widely reported in the press and customers lose trust in an organisation, tarnishing the brand
New business and customer retention
-damage to a brand will affect its ability to attract new customers and retain the ones it has as customers will have less confidence in the products and services offered, meaning they will take their business elsehwere.
Fair treatment of customers
-FCA (ICOBS rule of the customers best interest): ‘ a firm must act honestly, fairly and professionally in accordance with the best interests of its customer’
Business confidentiality
-when dealing with customers (particularly commercial ones) you may learn information about their business that you would otherwise not know, this infomration should be treated the same way as data about an individual
