The FCA has announced that seven million people who took out card and/or identity protection policies should expect to receive a letter in February inviting them to claim compensation. The compensation exercise follows on from a fine levied on policy issuer CPP in 2012 and relates to policies sold since January 2005.
According to the FCA, the protection policies were “often sold when customers called to register or activate a debit or credit card.” The FCA says consumers may be entitled to compensation “if you were given misleading or unclear information when you were sold your card and/or identity protection policy, and you purchased the policy based on this information.”
Whilst this mass compensation exercise has arisen as a result of mis-selling, there are numerous other instances which arise in everyday life in which having a record of a conversation would be of great benefit. In fact, in some areas such as insurance, it is now a requirement for organisations to record and store both phone conversations and other electronic communications. You may also be interested in our case study which shows how the NHS and PCTs are making use of call recording and storage.
But even aside from the regulated industries there are also times when having a record could be of benefit. For example, when training employees, it can be useful to record the call for later analysis and discussion. Whilst on one level, the trainer could simply sit in on the call and provide feedback, it can be far more productive to be able to play back the call and stop it at certain points to discuss tone of voice, approach and alternative choices of phrase.
Or how often have you wished that you have a record of a conference call? It is one thing to make notes but when you are trying to moderate the discussion and keep the call on track it can be difficult to note the key points as they are discussed. Having a record of the call means that you can concentrate on the discussion and afterwards the call can be replayed, perhaps to enable note taking or for the benefit of interested parties who may not have been able to participate at the time.
The storage of recorded calls is secure and call records can be retained for any period to suit individual business requirements. In an increasingly digital age, it can be easy to suffer from information overload which clouds the memory. By recording and storing calls, what was actually said can be easily recalled at any time, thus helping to smooth the course of business.