FCA H2 2019 Complaints Data Analysis

According to the FCA, PPI complaints accounted for 62% of the complaints received during this period.
The volume of complaints related to PPI increased from 2.12m to 3.71m between H1 2019 and H2 2019.
Excluding PPI complaints, the volume of complaints received increased from 2.18m to 2.31m between the two periods.
The most complained about products were PPI, current accounts, credit cards and other general insurance products.
All sectors have seen a drop in their average 3 day closure rate and an increase in their average complaints resolved after at least 8 week rate between the two periods.

Complaints in this sector accounted for 67% of the complaints raised in H2 2019. However, it should be noted that a large majority of PPI complaints will also feature in this statistic.
Banks and building societies saw an increase of 60.8% of the number of complaints opened in H2 2019 vs H1 2019.
This sector was the only sector that saw a decrease in the average number of complaints resolved between 3 days and 8 weeks. As they also saw a slight decrease in their average 3 day closure rate, this suggests that the influx of PPI complaints at the August deadline would have meant complaints deadlines were not being met within the regulatory timeframe.
Banks and building societies have seen the average number of complaints upheld decrease by 6% between H1 2019 and H2 2019.

Complaints against general insurers accounted for 15% of the complaints raised in H2 2019.
The general insurance and protection sector saw the second biggest increase in the number of complaints opened between H1 2019 and H2 2019 at 19.5%.
This sector saw the highest average 3 day closure rate in H2 2019 at 41.3%. However, this had reduced by 3.5% since H1 2019.
The uphold rate for the general insurance sector has also reduced very slightly (-0.6%) between the two periods.

The pensions and retirement sector has seen the biggest decrease (-8.5%) in the average number of complaints closed within 3 days going from 42.9% in H1 2019 to 34.4% in H2 2019.
However, the sector has seen an increase of 5.8% in the average number of complaints resolved between 3 days and 8 weeks between H1 2019 and H2 2019. This suggests that despite complaints not being closed within 3 days, 60% of them will then be closed within the regulatory timeframe of 8 weeks.
The uphold rate for this sector also decreased by 6.4% between H1 and H2 2019.

Complaints about retail lending firms accounted for 16% of the complaints opened in H2 2019.
Despite the sector seeing a decrease in the average complaints resolved within 3 days (-6.8%), their resolution rates for between 3 weeks and 8 weeks has remained fairly stable at 60.8% in H2 2019 vs 60.5% in H1 2019.
Therefore, it is no surprise that the average resolution rate of complaints that fell outside of the regulatory timeframe for retail lending firms increased 14.7% (+6.6%) for H2 2019.
This was the only sector to not reduce the average number of complaints upheld between the two periods. Instead the average uphold rate remained consistent at 37.9%.

*This analysis is constructed using Huntswood firm classification based on primary business activity and is worked on a best endeavours basis