RG 271 Complaints
automating your compliance requirements

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Supervision in the claims decision-making process reduces unsubstantiated claim rejections and discrimination. To support an efficient claims process that is fair, transparent, and compliant, Cognitive View AI & Big data analytics can help.

Cognitive View provides the proper foundation necessary to establish a systemic approach to develop compliance and conduct risk monitoring.

Resolve claim-related disputes in a compliant manner, learning from good industry practices and AFCA’s historical disputes.

Download the white paper to know more about Cognitive View’s Claims Handling assessment

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Supporting your compliance objectives

Complaints detection

Complaints process management

RG 271 compliance

Key features

AFCA Insights

A complete suite of customized policies and obligations for you to meet your compliance obligations and company policies.

Industry benchmark comparison

Communication monitoring to support risk-based supervision.

Complaints escalation prevention

Analytics and reporting to support operational risks.

How the technology will help

Policies and guidelines to drive an efficient, fair, and compliant claims process

Police governance & change management

Supervise & monitor the communication channels for control automation

Audit & reporting to address problems before they escalate

Call recording & archiving for audit

Risk-based supervision & predictive analytics

Incident & breach management

Support customer vulnerability

Claims related dispute trends from AFCA Insights

Claim dispute is the top reason for complaints in the general insurance category

Top issues for claims related disputes

AFCA has made more decisions in favour of financial firms for the discloser

AFCA has made more decisions in favour of Financial firms for disclosure related disputes

Insurance Contracts Act is the top legislation related to compliance failures

What is AFCA’s decision outcome looks for fraudulent claims

Emerging trends because of COVID-19

How AFCA Insights will help

Learn

from historical disputes & risk insights

Review

operational model & compliance gaps

Enhance

automate process & control monitoring

Predict

customer concerns and complaints

How we can help

Cognitive View’s technology can be augmented with claims expertise and advisory services from our partner firm Finity Consulting.

How Cognitive View Regtech can help

Policies & obligations to drive an efficient, fair, and compliant claims process requirements
Regulatory change management
Supervise & monitor the communication channels including contact centre for compliance & conduct risk
Call recording & archiving for audit
Risk-based supervision & predictive analytics
Incident & breach management
Resolve claim-related disputes & support complex claims by learning from disputes lodged at AFCA’s historical data

How Finity Consulting can help

Evaluate and optimise claims operations model and compliance performance
Gap analysis against CFS requirements
Strategic advice on obtaining AFSL or establishing as an AR for claims handling
CFS compliance readiness framework for providers
Harness data opportunities including AI
Incorporate claims risks into your risk management framework
Support legal requirements

Are you ready to transform & streamline your complaints management process in tune with the AFCA regulations? Try our automated insights to give you the guidance you need.

Try AFCA Insights