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ABI says Consumers lose out through claims firms

Consumers get a better deal complaining direct rather than using claims management companies, according to research from the ABI.
The FSA produced data yesterday showing the industry has now paid out £2.7bn in redress to over 1.8 million customers.
The ABI says data shows individual complaining through a CMC typically receive around £1,400 once CMCs received their share compared to an average of £3,200 received when individuals claim direct.
It says 71 per cent of complaints made direct so far in 2006 were upheld, compared to only 51 per cent through a CMC.
ABI director of life and pensions Chris Kenny says: “It is absolutely clear that policyholders get a better outcome when they complain direct. Policyholders should understand there is a fair and entirely free system in place. CMCs add no value to the process – yet charge a hefty fee for doing so.”

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