Episode 5 - Inside complaints data: Insights from Heather Gray, Lead Ombudsman Superannuation at AFCA

#5. Co-hosts Sarah Penn and Neil Benson chat with Heather Gray, Lead Obudsman, Superannuation at Australian Financial Complaints Authority. We cover:

• Complaints as Feedback: Complaints are valuable for identifying service improvement areas, even though funds aim to minimize them.
• Drop in Insurance Delay Complaints: There has been a notable reduction (39%) in complaints about delays in insurance claims within super funds, indicating successful improvements.
• Importance of Communication: Clear and timely communication—especially during incidents like cyber attacks—is critical in maintaining trust and managing complaints.
• Systemic Issues vs. Human Error: Sarah is surprised to learn that maybe a high proportion of human error-caused complaints is actually right!
• Data Usage: Complaint data is transparent and shared with trustees, allowing for benchmarking and industry-wide improvement.
• Rising Member Expectations: Members now expect higher service standards from funds, paralleling experiences in other industries.
• Clarity in Correspondence: Superannuation communications need to be clear, tailored, and actionable to prevent confusion and reduce complaints.