Financial Services Compensation Scheme  

FSCS chief: how AI will help us pay out claims quicker

"We want to move to a new advice model that enables us to have more control over the customer experience and more control over productivity.

“We're going to take the opportunity to flip that around and move from two-thirds outsourced to two thirds in-sourced. As you can imagine, that is the biggest change the organisation has been through in recent years.”

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Customer experience

The FSCS has a special team to deal with vulnerable consumer concerns.

“We have 30 customer care champions in a unit and have people specially trained in dealing with vulnerable customers which is just  as important as dealing with complaints, Beauchamp said. 

“That's a good example of how we use expertise within the organisation to train new joiners. It's one thing dealing with complexity, but it's another thing dealing with people who really need your help. 

“You need to understand that some people are different and they have different ways of functioning and different ways of seeing the world and so our ability to respond to that is essential.”

He highlighted this as one area the FSCS wants to get better at, and has already improved its training programmes accordingly.

amy.austin@ft.com