Author: A Edens Effective 20120404
Traficc – Client Complaint Procedure & Resolution
Applicable due to FAIS ACT (Financial Advisory & Intermediary Services Act)
- Complaint means a specific complaint relating to a financial service rendered to the client on or after the date of commencement of FAIS (ALL OUR POLICIES ARE AFTER THIS DATE & THUS SUBJECT TO THIS ACT / PROCEDURE).
Complaint is when a client alleges that we:
- Contravened or failed to comply with provisions of FAIS and that, as a result, the client has suffered a financial prejudice or damage.
- Wilfully or negligently rendered a financial service to the client which caused prejudice or damage to the client or which is likely to result in such prejudice or damage, or
- Treated the client unfairly.
(Points 1 and 3 are most relevant in our line of work. Point 1 more so in claims settlement/rejections and Point 3 more so in our dealings with clients requests such as refunds, cancellations etc. Point 2 is more a complaint a client may have against Dealership/BM – but we still would need to investigate)
We receive many queries which may appear to be complaints but are more the former and easily resolved – these do not need to be logged in the Complaints register (but query with manager as to their thoughts if in doubt):
- These include the like of clients ‘complaining’ about a debit / double debit – easy to resolve and explain. If client still believes they have a complaint – follow procedure below.
- Client ‘complaining’ that cover was not taken – if signed policy and client accepts this, this is not a complaint. But if client notes signature etc forged…we need to investigate!
- Most genuine complaints that we will get will be around claim payouts and rejections, and administration oversights/errors!
How to deal with a complaint
- Log the date and nature of complaint in the Complaints Register (this is on Sam’s desk)
- If a complaint is NOT in writing, ask client to lodge complaint in writing.
- Acknowledge the receipt of the complaint in writing within 5 days of receipt (not working days – 5 days. Thus if received on a Friday, client to have reply by latest the following Tuesday).
- Give the client the name(s) and contact details of the staff responsible for the resolution of the complaint.
- Claims – Shannon (Shannon to resolve or can escalate to Adrian (AE)/management).
- Cancellation & Refunds(PG) & Admin (NC) complaints – Phumza(PG) / Nicole (NC) and escalated to AE
- Finance / Accounting matters: to Account Manager and escalated to Mike (although doubt there would be complaints in Accounts
- Investigate complaint and see if it can be resolved immediately, and if so, take the necessary action & advise client accordingly (keep records).
- If complaint cannot be resolved immediately, send the client a written summary of the steps to be taken to resolve the matter and the expected date of resolution.
- NB: if unable to resolve the complaint within 3 weeks of logging the complaint with the Complaint Register, notify the client by means of written acknowledgement. This will outline the current status of the complaint and the expected date of final resolution.
- NNB: if unable to resolve the complaint within a further 3 weeks of the written acknowledgement (6 weeks since complaint lodged), notify the client giving full written reasons as to why the outcome was not favourable, and advise the client of their right to seek legal redress by referring the complaint to the Office of the Ombudsman.
- Notify the complainant that he/she has 6 months of receipt of such notification to refer the matter to the Financial Ombud and provide client with Ombud’s name, address and other contact details.
- Update the register with all developments / activities.
Please if a complaint is about you, then you need to hand it over to a neutral person removed from the situation – notify your direct superior/manager. Do not merely dismiss or cover up a complaint: reports by clients to FSB are taken very seriously and can ultimately damage
Traficc’s reputation and growth!
We all make mistakes, it is the manner in which we correct them that is important