TV taking on poor PPI - want to be involved?

marsden_pete

i was going to e-mail watchdog on this matter today after watching the programme last night, to see if they could help with the issue

Astaroth

MSE_Martin wrote:

Case studies are always difficult - we have many people to champion PPI, this isn't a knocking piece about it as a product, yet it is systemically being missold - there's an OFT investigation into that. We will of course be talking to both sides, yet to explain the issues we need case studies.

So do me a favour - wait to 'judge the journalism' until you've seen the programme!

I am actually surprised that you have many people to champion PPI from the general public - it will naturally seem very biased if you only have the sellers of the policies being the ones to defend them.

My partner used to work in the claims department for a PPI insurer (now works in counter fraud for insurance including PPI). With their product (one of the largest providers) their claim acceptance rate was over 80% and that takes into consideration "all" the missold policies and the people who claim knowing full well they arent covered (eg claiming for being pregnant with no complications etc).

Whilst I will give you the credit of waiting until I see the journalism I am very sure that a bet saying that your findings will be against current/ past practice would be exceptionally safe.

nrsql

Astaroth wrote:

I am actually surprised that you have many people to champion PPI from the general public - it will naturally seem very biased if you only have the sellers of the policies being the ones to defend them.

My partner used to work in the claims department for a PPI insurer (now works in counter fraud for insurance including PPI). With their product (one of the largest providers) their claim acceptance rate was over 80% and that takes into consideration "all" the missold policies and the people who claim knowing full well they arent covered (eg claiming for being pregnant with no complications etc).

Whilst I will give you the credit of waiting until I see the journalism I am very sure that a bet saying that your findings will be against current/ past practice would be exceptionally safe.

Don't understand that.
If 80% of claims were accepted that should mean there are a lot of people happy with the protection given - why would you be surprised if they came forward to champion PPI.
Sounds like you suspect that getting a claim accepted wasn't an easy experience.

Tootsie_Roll

MSE_Martin wrote:

Which journalism is that? This is a request for case studies.

For the purpose of journalism - splitting hairs.

MSE_Martin wrote:

Case studies are always difficult - we have many people to champion PPI, this isn't a knocking piece about it as a product,

Have you already written the case studies for those people ?

MSE_Martin wrote:

yet it is systemically being missold - there's an OFT investigation into that.

So wait for the results - one persons mis-sold is another persons mis-understanding - not the same. Also define mis-sold as you understand it. Simply because one part of the PPI is inappropriate does not mean it was mis-sold.

MSE_Martin wrote:

We will of course be talking to both sides, yet to explain the issues we need case studies.

Excellent - I look forward to a balanced argument for a change.

MSE_Martin wrote:

So do me a favour - wait to 'judge the journalism' until you've seen the programme!

Martin

OK I will.

lewt

nat west sold me it on my CC cant remember aying i would like it tho, when i lost my job they said it would'nt pay up as i was a student in temp work which i was when i took it out, when asked for it to stop it didnt only when they could no longer take money fron the account did they write to me to say my "ppi" had had to be stopped. i hate banks.

Middlestitch

Hate it when it is added automatically and you have to opt out rather than opt in.

Astaroth

Because insurance is a distress purchase, you dont buy insurance because it is sexy or the latest cool accessory but because of a fear of the worst or because it is a legal requirement.

The only time people actually use it is when the worst has happened... ask the 95% of people that go through their whole policy without claiming and they will undoubtedly be neutral to it at best and a lot will think that it was a waste of money because they didnt get anything for it.

When people do make a claim, particularly with PPI products, there are a number of things they will have to do.... no one will enjoy doing them because it is at a bad time and all they want is their money/ car fixed etc, at best they will find them understandable and at worst see them as roadblocks. They get what they claimed for... majority of people will then consider they got the result/ service that they expected rather than something above that and therefore worth praising (with the possible exception of fraudsters who arent caught but then I doubt anyone would want them championing their side)

People will simply almost never sing the praises of insurance. Look at the insurance forum and even people recommending a company will say either that they are "ok" or "their cheap" (which really isnt much a comment about the company itself).

Plus it is always much easier to find people who want to complain than it is to find people who will say things are great.

regularsaver1

There will be praise when certain policies have paid out

Moonbeam

I work for high street bank and it is part of my job to sell loans and credit cards, therefore I sell PPI too, but the bank I work for has changed their procedures recently to make sure that we cover PPI thoroughly and that the customer is happy with the decision they take (either with or without PPI). It's true that we are bonused on it, but there is certainly no pressure selling and one of the first things we have to do is check if the customer is eligible - this means they must be working on a permanent contract and be paying the appropriate class of NI. If someone isn't eligible we simply don't discuss it with them.

PPI is a choice and whilst it's not suitable for everyone some people really can benefit from the policies.

I hope that the programme shows a non-biased viewpoint, and includes some positive examples of where banks have got it right, alongside those where mistakes have been made.

I've lost track of the customers who come into the branch the day after a programme like this and get panicked about policies sold/internet fraud/identity theft etc. It would be nice to see a programme that doesn't just scaremonger the general public!!!!!

regularsaver1

Are you on about the form where you must record existing cover and any short falls moonbeam?