Posted by Tony on 06.10.11
Realtime Claims is a site aimed at people claiming Payment Protection Insurance, a loan set up to cover payments if the payer loses their job or falls ill. The FSA indicated that many of these policies were miss-sold and banks now have put aside more than £7bn to deal with customer claims for compensation.
The solution developed reduces the complexity of the process with elements such as online electronic signatures and SMS claim notifications. A normal company can process between 10 and 20 claims a day but with the new system Realtime Claims can deal with around 100.
Clients fill all their details online and these forms are sent electronically to the banks who then in turn return a settlement figure. This system allows a claim to be process from inception to settlement without ever needing to pick up the phone.
