ASIC concerns prompt QBE to change complaint comms process
QBE Insurance Australian will ensure all future communications relating to escalated complaints and dispute resolution will have the company's branding rather than an external legal firm's, under an agreement with the Australian Securities and Investments Commission (ASIC).
ASIC raised concerns that consumers may "feel intimidated and possibly dissuaded from pursuing their complaint", after reports emerged that some QBE clients had received communications on the letterhead of a law firm, rather than the insurer's.
ASIC deputy chairman, Peter Kell, said QBE had agreed to ensure all communications with customers relating to escalated complaints and dispute resolution, will be made on company branded letterhead, even in cases where the insurer had received assistance from a law firm in preparing the response.
"A consumer's ability to access free dispute resolution is an important part of the financial services system," he said.
"While licensees can outsource their dispute resolution functions, it must be done in a way that is consistent with their licence requirements, ensures accessibility to customers and maintains a customer-focused approach."
AUTHOR
Nicholas O'Donoghue
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