It’s that time of the year again when the Financial Conduct Authority (FCA) publishes its complaints data for financial services in the UK, and there’s good news for the insurance sector.
According to the FCA, the insurance and pure protection product group saw the biggest decline in complaints received by firms in the second half of 2021. There were 770,000 complaints in the period, compared to 890,000 in the first half of last year.
Broken down, here are the complaints figures for insurance and pure protection:
|
Product |
H2 2021 complaints |
H1 2021 complaints |
|
Assistance |
30,313 |
31,336 |
|
General insurance packaged multi products |
9,083 |
10,045 |
|
Income protection and other accident, sickness, and unemployment |
3,210 |
4,081 |
|
Medical/health |
69,749 |
83,504 |
|
Motor & transport |
218,048 |
200,840 |
|
Other general insurance |
216,438 |
297,652 |
|
Other pure protection |
8,150 |
1,055 |
|
Payment protection insurance |
16,378 |
56,620 |
|
Pet |
21,192 |
23,088 |
|
Property |
86,204 |
90,366 |
|
Protection packaged multi products |
363 |
331 |
|
Travel |
16,178 |
17,081 |
|
Warranty |
52,091 |
44,330 |
|
Whole of life / term assurance / critical illness |
23,991 |
26,532 |
Overall, there were 1.84 million complaints received across financial services in H2 2021. Volumes-wise, current accounts (under the banking and credit cards product group) remained at the top of the pile with 526,609 complaints. Motor & transport and other general insurance landed in second and third spot, respectively.
