The challenge of complaints and feedback management in Financial Services continues to escalate as changes to the DISP rules come into effect and all complaints become reportable. Many firms that have to date found spreadsheets and home grown “interim” systems adequate are recognising that in order to demonstrate compliance with the FCA rules, implementation of a robust and flexible system can not only ensure you meet the regulator’s requirements, but can realise significant efficiencies along the way. We have invested heavily in our complaints management solution in recent times in response to customer demand, both in the Lloyd's market and the wider financial services sector.


Complaints Management solution for the Lloyd's Market

With the new FCA regulatory changes now in place, along with increased scrutiny and reporting of Conduct Minimum Standards set by Lloyd’s, it is crucial that Managing Agents (including their Coverholders and third party administrators) are able to demonstrate a robust system for capturing all the required data associated with the process for managing both UK and International complaints. 


Worksmart’s review of the Lloyd’s market has highlighted the fact that a number of managing agents are still using MS Excel spreadsheets for managing complaints and feedback. Whilst this may seem an adequate approach in the short-term, more and more firms are realising that this does not provide a robust approach for supporting regulated complaints processes, data requirements and reporting conduct minimum standards moving forward. Some of the common issues identified include:

  • Lack of visibility of TPAs with complaints handling authority and sub-delegated authorities
  • No effective data structure for cases
  • Unable to attach documents and audio files to cases
  • No automated tracking of regulatory escalations/deadlines
  • No mandatory fields, field validation or business rules to guide the user through the process
  • Issues with multiple users editing the spreadsheet at the same time
  • No embedded learning opportunities function
  • No embedded quality assurance capability
  • Reporting is manual and time consuming



Worksmart has been working very closely with the Lloyd’s Market and have developed a unique complaints management ‘hybrid’ template, allowing both the Lloyd’s (two stage) process to be catered for, as well as the general market FCA regulated complaints process.

The Worksmart ‘Lloyd’s Market’ template has been designed for Managing Agents, Coverholders and Third Party Agents (TPAs) and delivers different user portals for the different stakeholders, delivering the right level of functionality at the right time in the complaints process. Complaint cases that cannot be resolved by the Coverholders/TPAs can be automatically escalated to the Managing Agent for investigation, unless the firm has complaints handling authority/sub-delegated authorities. If the Managing Agent cannot resolve the complaints within the two week timeframe, the cases will be picked up by Lloyd’s for resolution (as the Lloyd’s notification sheet is automatically sent as part of the process). The Worksmart ‘Lloyd’s Market’ template not only provides automatic escalation of cases to Lloyd’s, but also automatic case updates back from Lloyd’s, ensuring all parties have total visibility of complaints, providing an improved and more efficient service.

Managing agents are solely responsible for handling international complaints in accordance with the complaints handling rules in the relevant country. Managing agents underwriting in those countries must ensure that their processes and procedures are compliant with the requirements set out in Market Bulletin Y4896. The Worksmart ‘Lloyd’s Market’ template has incorporated functionality to allow this requirement to be delivered out-of-the-box and can be configured for new territories, in the future.

The Worksmart solution also includes a Redress identification and management process as well as a Quality Assurance (QA) process, allowing nominated users to undertake a QA of individual cases and record their findings (along with learning opportunities) against the case.

In summary, the Worksmart ‘Lloyd’s Market’ template delivers all of the following functionality out of the box:


  • Central database for organisation-wide access. All data, including voice files, letters and scanned documents, stored centrally against the case;
  • Different stakeholder access portals (Managing Agents, Coverholders and TPAs) for quick and easy capture/escalation, retrieval, update and resolution of complaints;
  • Single ‘Hybrid’ solution to handle both the general market and Lloyd’s market processes in one single, intuitive system;
  • A Lloyd’s Market complaints system that can automate many of the manual tasks currently undertaken and consolidate many of the complaints activities/functions in a timely and cost effective manner;
  • Ability to capture multiple contacts, issues, actions, redress payments and learning opportunities within one case if required, and any business actions triggered, assigned to an individual which can be tracked and reported on to ensure full accountability;
  • Incorporates standard and consistent quality control and compliance audit process within the system, so that performance can be reported on;
  • Can incorporate a cost authorisation process to automatically generate email notifications allowing for in-case sign-off of redress amounts, for different stakeholder approved levels;
  • Provides operational and regulatory reports and charts (including new Conduct Management information) in an efficient and timely manner;
  • Provides data feeds into and out of the system to increase user productivity by saving on re-keying of data and associated data input errors. This also includes the Lloyd’s weekly notification spreadsheet (both UK & International) and case status updates back from Lloyd’s;
  • Provides functionality for Managing Agents underwriting in overseas countries, ensuring that their processes and procedures are compliant with the requirements set out in Market Bulletin
  • Reduces operational costs and increases productivity whilst minimising the reputational damage and regulatory fines associated with poorly handled complaints;


Complaints Management solution for Financial Services

Our case management complaints system is specifically designed to meet the complaint management needs of financial services organisations. Robust and easily configured to corporate and market needs, it is an intuitive system that makes it easy for organisations to capture, manage, track and report on complaints across the entire business network, ensuring the customer experiences a consistent and concise approach to resolving their problem, regardless of how they contact your company.

For many organisations, complaints management is now driven out of necessity, with customers increasingly willing to complain about poor service, a bad experience or faulty product. They know their rights and when they have little success in directing the issue to the company, many are now turning to the public arena, such as social media and on-line forums, to have their say - risking your company’s reputation in the process.

Our complaints management system tracks each and every complaint, providing you with evidence of the remedial activity required and interaction with each and every complainant. It provides your management team, all the way up to Head of Customer Service and CEO level, the ability to drill down and view trends, actions or the current status of any complaint being handled at case level, or to review data and dashboards for operational effectiveness and external reporting requirements, such as compliance.

Regardless of which part of the business the customer contacts, each complaint is managed through the resolution and redress process in a streamlined and automated manner, providing efficiency and transparency throughout. With Worksmart’s complaint management analytical capabilities you will be able to gain insight to eliminate costly process errors, improve service levels and define requirements for new products and services.


  • Central database for organisation-wide access.
  • All data, including voice files and letters, stored centrally
  • Quick and easy capture, retrieval and update of complaints with step by step prompts
  • Rapid resolution of issues with effective workflow management
  • Improved customer service levels and provide consistent service delivery
  • Manage costs and control compensation
  • Identify root causes to prevent issue recurrence
  • Seamless integration with our individual compliance products for remedial action
  • Reduce operational costs and increase productivity
  • Pinpoint areas of concern across the organisation and define future offerings

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