Publication of Complaints Data
We take the feedback and complaints we receive from our customers and policyholders very seriously. It acts as a valuable source of information and enables us to constantly review the way we do things and make improvements wherever we can.
We strive to ensure that all complaints are handled as quickly as is reasonably possible and that every customer is kept informed of the progress. It is not always possible, or indeed, suitable to resolve a complaint immediately as we always endeavour to provide a thorough and fair investigation into what has occurred. Each complaint is handled by a dedicated complaint handler, often in consultation with senior managers.
Firm name – Hiscox Insurance Company Limited
Group – None
Other firms included with the report – Hiscox MGA, Hiscox ASM, Hiscox Underwriting Limited, Hiscox Underwriting Services Limited, Hiscox SA
Period covered in the report – 1st July 2020 - 31st December 2020
Brand/trading names covered – Hiscox Insurance Company Limited / Hiscox
|Number of complaints opened by volume of business|
|Product / service grouping||Provision (at reporting period end date)||Intermediation (within the reporting period)||No. of complaints opened||No. of complaints closed||Closed within 3 days (%)||Closed after 3 days but within 8 weeks (%)||Percentage upheld||Main cause of complaints opened|
|Banking and credit cards||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A|
|Insurance and pure protection||2.04 per 1,000 policies in force||N/A||958||2072||6%||26%||31%||Claims related|
|Decumulation, life and pensions||N/A||N/A||N/A||N/A||N/A||N/A||N/A||N/A|
What the data means
Provision (at reporting period end date) – This is the number of complaints received, within the six month period, per 1000 policies in force.
Complaints opened – This is the number of complaints received in the six month period from 1st July 2020 - 31st December 2020.
Complaints closed – This is the number of complaints that have been closed within the same period, but may have been received prior to 1st July 2020. Hence, it can be higher than the amount opened within this period.
Percentage closed within 3 days – This is the percentage of complaints that have been resolved within 3 days of receipt.
Percentage closed after 3 days but within 8 weeks – This is the percentage of complaints that have been resolved after 3 days but within 8 weeks. The 8 week period is the time that our regulator allows for us to initially investigate and provide our final response to a complaint.
Percentage upheld – This is the percentage of complaints that we uphold in favour of the complainant. Whilst we obviously hope that the products and services we offer are of an excellent standard and meet the needs of our customers, we recognise that we can always improve. Rather than make excuses, we are happy to accept where we have fallen short.
Main cause of complaints opened – This is the main cause of complaints received within the six month period. The listed cause is taken from the FCA definitions in regards to complaint categorisation.
If you have any questions relating to the statistics detailed above, or regarding how we handle complaints, please contact the Customer Relations Team. We strongly encourage our customers to provide us with feedback, both positive and negative, as it is so important in enabling us to improve. The team can be contacted in the following ways: