Capita Customer Management has been selected as a partner by the Financial Services Compensation Scheme (FSCS) to consolidate all its claims handling services, following a competitive tender.
In a contract worth £37m over the initial 4.75-year term with an option to extend for a further two years, Capita will become the sole provider for the handling of pension, insurance, mortgage, deposit and investment claims and all inbound and outbound customer contact. FSCS claims handling processes have previously been provided by three suppliers, including Capita.
Jimmy Barber, chief operating officer at FSCS, said: “Our decision to consolidate our claim handling services with Capita is testament to the strength and quality of its submissions during the procurement process.
“Capita demonstrated its understanding of our need to deliver a fast, empathetic and consistent customer experience and the new partnership will help ensure that customers are provided with the best possible service when making a claim.”
FSCS delivers a critical set of complex customer processes in thefinancial services sector. The new partnership with Capita is part of a wider programme for FSCS to improve customer experience and build trust in the sector through providing smarter and more automated digital processes.
Capita will deploy its advanced digital and customer management capabilities to drive improvements in experience across all channels.
Mike Barnard, executive director, Capita Customer Management, said: “The handling of complex cases for customers is at the heart of Capita Customer Management’s expertise, and fully aligns with Capita’s new strategy.
“We have a decade-long relationship with FSCS and the expansion of our partnership reinforces our position in the provision of customer management solutions for financial services sector.
“We look forward to this next phase of our partnership, deploying Capita’s best in class digital, transformation, case management and contact centre capabilities to support FSCS in becoming a leader in customer experience in financial services.
“Our partnership has always been based on shared objectives and aligned values, and we very much look forward to continuing our successful work with FSCS and supporting their critical role in the UK.”