Social Tariffs, Support and Customer Eligibility
Social tariffs are a regulatory obligation on utility companies and telcos to offer reduced rates for low income families. Other social support mechanisms include hardship funds and direct support for financially vulnerable individuals.
Make the process of providing eligibility evidence for financial support painless.
Minimise the friction that affordability puts on the customer experience.
Risk & Compliance objectives
Gather evidence that low cost families are getting all necessary support. Avoid revenue leakage that comes from providing the support to those that don’t need it.
Minimise the need for manual intervention when authorising customer eligibility.
Firms must ensure the right customers get the right support – barriers to help must be removed, but without compromising customer eligibility checks that make sure support only goes to those that need it.
This important customer journey is typically poorly designed, paper based and operationally inefficient.
The PrinSIX solution
Using Open Banking integration as the primary source of eligibility for social support, PrinSIX transforms the speed and operational cost of assessment and access to help. For those customers uncomfortable with using Open Banking, digital upload lets them upload documentary evidence, which operations teams can quickly review and respond to within an agile workflow.
This solution removed paper from the process and transformed our client’s operational overhead. A journey taking six weeks became four minutes. Operational overhead reduced by 90%, despite a 30% increase in customers being served.
Collaborating with PrinSIX to develop the UK’s first digital validation for our social tariff, which was deployed within a matter of weeks, has resulted in a 141% uplift in our social tariff take up – meaning more residents of Hull & East Yorkshire can manage their monthly bills during the cost-of-living crisis.
Our clients understand their customers. The PrinSIX team understand digital orchestration. Our collaborative approach combines both to realise the true digital potential that exists in our clients’ businesses.