Customer Service

Question 1

What major benefit is a customer most likely to derive from an insurer which has instigated a quality customer service policy?

Answer 1

Faster claim settlements

Question 2

Which body imposes regulations which require claims to be handled promptly and fairly?

Answer 2

FCA

Question 3

When an insurer implements a service standard, this will usually be aimed at

Answer 3

All staff

Question 4

Customer service refers to

Answer 4

The board activities that a company and its employees undertake in order to satisfy its customers so that they can continue as customers and speak positively about the company to potential customers

Question 5

What are external customers

Answer 5

Are those who actually by the insurance product and others such as brokers, agencies, third-party administrators and investors

Question 6

What are internal customers

Answer 6

They are the employees of the company who receive services from other employees of the company

Question 7

Consumers are increasingly being given move right there for

Answer 7

They Are also aware of this and have high expectations of the type of service they should receive

Question 8

Companies provide added value services…

Answer 8

And often publish customer care charters in order to establish good customer care and distinguish themselves from their competitors

Question 9

What is the benefit of quality customer service

Answer 9

It keeps existing customers And attracts new ones. The good reputation of a company attracts quality employees and ultimately probability is increased

Question 10

Performance standards

Answer 10

They set out the minimum level of service quality required. Employee should be regularly appraised against a standard with award or training offered as appropriate

Question 11

What does competence mean FCA the definition

Answer 11

Having the knowledge and expertise to carry out a function without supervision. The link between the effectiveness of training and competence is also considered key by the PRA

Question 12

Principal six in both the PRA rulebook and FCA handbook requires

Answer 12

A firm must pay due regard to the interest of its customers and treat them fairly.
It must be embedded in their corporate strategy and culture

Question 13

Firms must have management information that is

Answer 13

Adequate to demonstrate delivery of customer based outcomes and examine every process in the light of customer service

Question 14

Obligations of organisations relating to customer service

Answer 14

Firms are required to meet the FCA customer service standards for claims handling as set out in ICOBS.
Claims should be handled promptly and fairly with relevant guidance provided to the customer. The firm should not unreasonably reject a claim

Question 15

ICOBS

Answer 15

Insurance conduct of business sourcebook

Question 16

The enterprise act

Answer 16

Gives insureds the right to claim for damages against the insurer where they can prove that a delay in settling a claim has caused them to experience a loss

Question 17

Obligations of organisations relating to customer service

Answer 17

Intermediaries acting for a client in relation to a claim must act with due care,skill and diligence

Question 18

Conflicts of interest

Answer 18

Must be avoided all the clients knowledge and approval obtained. This is particularly relevant to an intermediary who has received delegated authority from an insurer to handle claims

Question 19

All complaints from illegible complainant as defined by the regulators are subject to FCA rules

Answer 19

For complaints from non-illegible complainant the firm must have appropriate procedures in place for registering and responding to expressions of dissatisfaction

Question 20

The FOS

Answer 20

Illegible compliments have access to the FOS and they should be made aware of this

Question 21

In relation to customer service the general data protection regulation set out

Answer 21

That data must be obtained fairly if it is to be used fairly

Question 22

What are the three main reasons why customer service is important

Answer 22

Consumer awareness. Expectations of service and competition

Question 23

What are the main benefits to a company of providing quality customer service

Answer 23

Customer loyalty. Attracting new customers. Attracting and retaining high-quality employees. Differentiating a company from its competitors. Improving the companies profitability. Increasing productivity. Improving the working environment

Question 24

What is the definition of an illegible complainant under the FCA rules

Answer 24

A consumer or a micro enterprise
A charity which has annual income of less than £6.5 million at the time the complainant refers to the complaint to the respondent. A trustee of a trust which has a net asset value of less than £5 million. A CBTL consumer.

A small business. A guarantor

Question 25

What are the individuals rights under the general data protection regulation

Answer 25

The right to be informed. The right of access. The right to read difficult Asian.

The right to erasure. The right to restrict processing. The right to data portability for example request a copy of personal data held under which must be supplied in a format that allows you to use. The right to object. Rights in relation to automated decision-making and profiling