© May not be reproduced without permission of Financial Ombudsman Service Ltd 1 Financial Ombudsman Service Association of Financial Mutuals – 19 October 2010 What can we learn from complaints? Natalie Ceeney CBE Chief Executive and Chief Ombudsman

© May not be reproduced without permission of Financial Ombudsman Service Ltd 2 Introduction The situation today Considering complaints Complaints and the ombudsman service Mutuals and the ombudsman service How can the ombudsman service help you?

© May not be reproduced without permission of Financial Ombudsman Service Ltd 3 Today’s complex world…

© May not be reproduced without permission of Financial Ombudsman Service Ltd 4 Considering complaints…

© May not be reproduced without permission of Financial Ombudsman Service Ltd 5 …and the ombudsman service itself

© May not be reproduced without permission of Financial Ombudsman Service Ltd 6 Trends over the past year 1% 2% 110% 3% 48% 58% 13% 8%

© May not be reproduced without permission of Financial Ombudsman Service Ltd 7 Mutuals and the ombudsman service 854 cases referred to us

© May not be reproduced without permission of Financial Ombudsman Service Ltd 8 Mutuals and the ombudsman service 40%45% 30%33% 20%34% 26%41% 37%57% 28%31% 29%39% Cases where our review resulted in a different outcome – April 2010 to date Financial mutualsOther businesses Health insurance products Whole of life policies Pension products General insurance Investment-linked products Mortgage endowments Building & contents insurance

© May not be reproduced without permission of Financial Ombudsman Service Ltd 9 How can the ombudsman help you?  phone   write  visit

© May not be reproduced without permission of Financial Ombudsman Service Ltd 10 How can the ombudsman help you? technical advice desk informal guidance for businesses and consumer advisers  our remit  approaches to cases  process and procedures

© May not be reproduced without permission of Financial Ombudsman Service Ltd 11 How you can help yourselves…  Ensure your handling is effective – and easy to follow  Let your customers know you will listen, even when things go wrong  A customer who feels valued will help your reputation grow  Doing better than your competitors? Show off about it!

© May not be reproduced without permission of Financial Ombudsman Service Ltd 12 Any questions?