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PPI

PPI has been in the news a lot recently. The odds that you are completely unaware about what PPI is quite negligible and there’s also a high possibility that you too have been a victim of the PPI mis-selling scandal. If you’ve realised that you too have been mis-sold the insurance like millions of other Britons there’s nothing to worry about. The financial watchdog will ensure you’re not at a loss.

The £42m Campaign

In order to spread more awareness about the PPI claims deadline the Financial Conduct Authority has launched a £42mn campaign for which they have roped in Arnold Schwarzenegger. The purpose of this campaign is to make people aware of the time that they have to make their claim for PPI compensation. There has been a lot of speculation regarding the deadline of PPI and also a lot of misinformation which the FCA intends to eradicate. The Financial Conduct Authority’s efforts should be commended as they are ensuring that victims of this mis-selling scandal are not dealt with injustice.

Ambassador

The primary objective of the campaign is to eliminate all the unnecessary talk about PPI due to lack of communication between the banks that were responsible for mis-selling the policy and the victims of this scam. Pulling in Arnold Schwarzenegger for the campaign was a brilliant move according to marketing experts as they needed a tough face to inspire people into taking action.

Urging People to take Quicker Decisions

The most challenging part of the claim process in the case of payment protection insurance is determining whether or not you have been mis-sold the insurance. Once it is clear to you that you have been misled into buying an insurance you did not need, you need to prove how exactly it was mis-sold to you. These decisions depend a lot on the decisiveness of an individual. There are many people out there who are still not aware that they have been mis-sold the policy. This is a major concern for the financial watchdog as they cannot keep the window for claiming compensation open forever. The robotic version of Arnold threateningly warns the pedestrians that they need to make a quick decision or else they might miss the important deadline.

Making things simpler for consumer

Approximately £42.2m has been spent to create awareness regarding the deadline as missing it could result in a huge loss for potential claimants. Out of the total 42.2 mn that has been spent on the campaign an amount close to £24.4m has been spent on advertisements on Television and printed medium. Approximately £4.9m has been spent to produce the advertisements. In order to make things more convenient for the consumers they have spent a whopping £4.2m to improve their customer service experience by setting up helpline and an informational website.

To make the process simpler you should consider hiring a reputable claim management company which can reduce the hassles involved in the claim procedure. So, contact us today and get a Free PPI check.

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