Financial and insurance services

Tender description

Strategic delivery partner (Strategic Partner) to deliver an end-to-end claims handling service (the Service). The vision for the Service is to transform FSCS' outsourcing arrangements to ensure they are aligned with its new operational strategy — to enhance customer experience and value. FSCS want to create stronger relationships with fewer strategic partners to drive significant value. The Strategic Partner will be responsible for: — Service Management Services, — Support Services, — Deposit Services, — Non-Deposit Services. FSCS may during the life of the contract require the Service Provider to provide the following Optional Services: — Insurance Provision Services, — Identification and Verification Tool, — Portfolio Management Tool, — Physical Storage, — Default Investigation Services, — Thematic Issues Resolution, and respond to changes in the portfolio of protection within the financial. Claim handling activities, including but not limited to: Deposit and Non-Deposit claims: — evidence checking, including identification documentation, to ensure it meets the minimum requirements for the claim type, — monitoring and recording evidence received, — gathering information from third parties (such as the customer, providers of financial services products or financial regulators) where required and chasing as necessary, — determine eligibility of the customer, — determine validity of the claim — assessment to be completed in line with FSCS's rules and policies, — complete quantification of compensation — calculation of loss made in accordance with FSCS's rules and policies (potentially using specialist calculation tools), — review and sign off by an accredited individual, — sanctions checking, — issuing compensation payments and decision documentation, — provision of supporting MI. Customer Contact: — dealing with incoming enquiries by telephone, letter, email or other agreed methods, relating to potential claims, ongoing claims, general queries, and use of the FSCS Online Claims Service, — customer support during: —— pre-screening and registration; —— the end to end claims process; — post pay-out activities, generally initiated by the customer and may include reissuing of payment, documentation or providing explanations. Printing and Scanning: — scanning all incoming post to the relevant claim record or workspace in FSCS's system, — returning and/or storing documents as required, — printing and posting outgoing mail. Other related activities: — consultancy services to work with and assist FSCS on in-house tasks, — initiating process improvements, including documenting and piloting any changes, — identifying, monitoring and mitigating risks, — participation in audit or assurance tasks. Optional Scope- FYI: — investigation of firms to determine ability to pay claims made against them (“Default investigations”), — claim handling — Insurance Provision claims (activities generally align with the list above), — physical document storage (of the Iron Mountain stored documentation), — provision of an Identification and Verification tool which will: —— support identification and verification activities; —— determine whether a customer is a potentially sanctioned individual; —— determine that the correct person is being paid into the correct account; —— identification, investigation, and process design for thematic issues. In addition FSCS shall expand the claims handling services during the lifetime of the contract to respond to changes in the portfolio of protection within the financial services industry.