Last Friday, CourtCorrect was thrilled to host a diverse group of professionals from FCA-regulated companies at The Shard for our 'Complaints & Croissants' event. The occasion provided a superb opportunity to engage in meaningful discussions about AI's evolving role in the banking and insurance industries, as well as the promising prospects of new innovations like the Consumer Duty, all while enjoying coffee and croissants.
The CourtCorrect Offering
The event, led by CourtCorrect’s CEO, Ludwig Bull, and advisory board members Serena Joseph and Amir Ali OBE, showcased CourtCorrect’s AI platform designed to revolutionise complaints resolution. The presentation provided a comprehensive view of the current complaints landscape, noting that with 14.4 million people experiencing relative poverty in 2021/2022, there's been a corresponding surge in complaints. This increase is attributed to complaints handling often being the most accessible form of justice for consumers. This trend is further compounded by the unprecedented delays in County Courts, where wait times for a trial have exceeded 75 weeks, underscoring the urgency for efficient and accessible solutions in justice.
CourtCorrect demonstrated its platform's journey from case initiation to resolution, highlighting how it enables swift responses, precise decision-making, and enduring solutions targeting the core of each issue. This approach elevates root cause analysis from a mere performance metric to a dynamic tool, providing detailed operational feedback to relevant teams for continuous improvement. CourtCorrect therefore offers a way to more effectively bridge the backend operational side of business with the consumer’s experience, through enhanced data analysis offerings.
Networking and Insights
The true value of 'Complaints & Croissants' extended beyond the formal presentations, becoming apparent in the networking sessions. Here, the attendees engaged in earnest dialogue, sharing their apprehensions about the existing regulatory framework. The Consumer Duty dominated discussion, as it has still to this point, proven a somewhat elusive regulation to tackle in delivering “good outcomes”. These interactions brought to light specific concerns and aspirations, informing how CourtCorrect's platform could be tailored to address these issues.
It was great to see so many people genuinely interested in our product and the issues we're addressing. The conversations and feedback we received were invaluable and it was clear that attendees were engaged and keen to discuss these important topics. This enthusiasm and the quality of discussion was a true highlight of the event.