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THE CHALLENGEPayment protection insurance (PPI), also known as loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt. In the UK PPI was widely mis-sold for over 20 years by banks and other credit providers as an add-on to the loan or overdraft product sold to people who didn’t ask for, want or need it. The banks defended their actions in the High Court, however after their objections were overturned in 2011 the resulting publicity opened the floodgates for a barrage of PPI claims. The total amount of mis-sold PPI reclaimed across the entire PPI industry stood at R600 bn in Jan, 2011. To date, with assistance from PPI Claim companies, over R500 billion has been repaid to consumers (Jan, 2018) Our customer, one of the largest and most successful PPI Claim companies, based in Warrington; England, was in the process of expanding their client acquisition substantially which was going to increase their processing costs exponentially. They were therefore looking for an outsourced provider, guided by the following key criteria, which would give them peace of mind when it came to managing their significant increase in volumes:
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THE SOLUTIONOutProsys first invested time in understanding the current work-flow processes and then designed, developed and implemented a bespoke document and email processing solution using their experience, capabilities and leading edge technology with no upfront setup costs. The solution needed to cater for a wide variety of documents and communications including but not limited to:
Hardcopy documents from the credit providers are now batched, scanned and securely uploaded to our secure FTP server as image files. Electronic communications (email) are routed to our dedicated mailbox for conversion into image files (including attachments) for a more efficient and accurate means of processing. Once the image files have been successfully received at our production facility, they are first copied onto backup servers on-site and then copied off-site to our disaster recovery site. The images are then pre-processed and prepared for capture. All data on every image goes through a double capture process whereby the data is first captured by a key operator and then re-captured by a second more experienced verify operator which involves each character being checked and compared to the original data. Characters that do not match the original data will be re-captured and re-verified. During the data capture process, our data entry program will check the attributes assigned to each field to ensure the validity of all data captured. Field checking typically includes any of the following: alpha or numeric checking, modulus 10 or 11 check digits (ID Numbers), range checks, table lookups (Address), date checks, mandatory enter, or mandatory fill. Our operators are also guided by detailed work flows and instructions throughout the process. The captured data is then post-processed using numerous business rules to ensure the completeness, accuracy and validity of the final data. An output file is then produced in our customers required format and securely returned to them via an API. Our document processing solution has addressed and exceeded each of our customer's requirements as we continue to strive toward providing service excellence. BACK |
Payment protection insurance (PPI), also known as loan repayment insurance, is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill, disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt. In the UK PPI was widely mis-sold for over 20 years by banks and other credit providers as an add-on to the loan or overdraft product sold to people who didn’t ask for, want or need it. The banks defended their actions in the High Court, however after their objections were overturned in 2011 the resulting publicity opened the floodgates for a barrage of PPI claims. The total amount of mis-sold PPI reclaimed across the entire PPI industry stood at R600 bn in Jan, 2011. To date, with assistance from PPI Claim companies, over R500 billion has been repaid to consumers (Jan, 2018)
Our customer, one of the largest and most successful PPI Claim companies, based in Warrington; England, was in the process of expanding their client acquisition substantially which was going to increase their processing costs exponentially. They were therefore looking for an outsourced provider, guided by the following key criteria, which would give them peace of mind when it came to managing their significant increase in volumes:
OutProsys first invested time in understanding the current work-flow processes and then designed, developed and implemented a bespoke document and email processing solution using their experience, capabilities and leading edge technology with no upfront setup costs. The solution needed to cater for a wide variety of documents and communications including but not limited to:
Hardcopy documents from the credit providers are now batched, scanned and securely uploaded to our secure FTP server as image files. Electronic communications (email) are routed to our dedicated mailbox for conversion into image files (including attachments) for a more efficient and accurate means of processing.
Once the image files have been successfully received at our production facility, they are first copied onto backup servers on-site and then copied off-site to our disaster recovery site. The images are then pre-processed and prepared for capture. All data on every image goes through a double capture process whereby the data is first captured by a key operator and then re-captured by a second more experienced verify operator which involves each character being checked and compared to the original data. Characters that do not match the original data will be re-captured and re-verified. During the data capture process, our data entry program will check the attributes assigned to each field to ensure the validity of all data captured. Field checking typically includes any of the following: alpha or numeric checking, modulus 10 or 11 check digits (ID Numbers), range checks, table lookups (Address), date checks, mandatory enter, or mandatory fill. Our operators are also guided by detailed work flows and instructions throughout the process. The captured data is then post-processed using numerous business rules to ensure the completeness, accuracy and validity of the final data. An output file is then produced in our customers required format and securely returned to them via an API.
Our document processing solution has addressed and exceeded each of our customer's requirements as we continue to strive toward providing service excellence.
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