Insurance cold-calls under the spotlight

Advisers such as Alan Knowles, director of Cura Financial Services, and providers such as Steve Casey, marketing director for Square Health, reported receiving cold-calls from an outfit calling itself the Insurance Review Centre.

The phone number is based in Runcorn, although there is no website presence for it, nor is there a company listed under that name in Runcorn on Companies House.

While a web search brings up some similarly named companies, such as a consumer review website, these are all unrelated to the so-called 'Insurance Review Centre'.

The number the advisers were called from is 01928 639850, and online searches show other consumers have also complained of being cold-called by people from it.

According to the consumer reports, the cold-callers purported to be working on behalf of the consumer's life insurance company, but when challenged for their Financial Conduct Authority number, they reported that the call was terminated.

The reason you're calling us is because we tried to get hold of you about your life insurance - Cold-caller 

Mr Casey said he had had a similar experience, and told Financial Adviser he had called the company to lodge a complaint, but has yet to hear back.

I also called the number from my personal mobile on behalf of Financial Adviser. 

The first person I spoke with went by the name of 'Wayne' who said he was from the Insurance Review Centre. Before I'd got past "Hello, how are you?", he said: "The reason you're calling us is because we tried to get hold of you about your life insurance".

When I told him nobody had called me, and that I was a journalist from Financial Adviser and was calling them to ask the company some questions, he said again: “We have called you about your insurance”. 

When I explained again that they didn't call me; I was calling them based on a story I was writing, and could I speak with someone able to talk to the media, he put me through to his line manager, who introduced himself as Michael.

Michael immediately greeted me using my maiden name, which I have not used since 2013. They were unable to tell me how they knew my maiden name. 

I was then put through to a lady who said her name was Stacey. She said: "The company does have a FCA regulated number and they do have FCA regulated financial advisers". 

But when I asked for more details, I was told an FCA regulated financial adviser would call me back. I did not get a name for that financial adviser. 

When pressed, she then said she would pass my details onto a regulated financial adviser, and they would contact the Financial Times and let the FT know that one of their employees (me) wanted to speak with them.

When I asked if I would hear back from someone to talk to me on the record about their operations, I was told a financial adviser might call me “possibly by the end of the week or so”. No financial adviser has called.

Nuisance phone calls can be distressing for many people and, when companies flout the law, we can take action against them under e-privacy laws. -- ICO spokesperson

The FCA has been notified. While the regulator does not comment on individual matters, the watchdog has done a lot over the years to educate consumers about cold calling and scams. 

This has been done through its multi-year scamsmart campaign and a dedicated section of its website https://www.fca.org.uk/scamsmart

It also has specific advice on how to avoid scams https://www.fca.org.uk/scamsmart/how-avoid-investment-scams

Alain Desemir, founder of Contact State, said he set up his company to tackle cold-calls such as this. 

Contact State has been calling for greater protections for consumers over their data and on lead generation. It has also warned advice firms and insurers ‘buying’ leads to be careful about where these leads come from.

He commented: "Any unsolicited call of this nature is an Information Commissioners' Office breach. 

“One of the things I've been trying to make companies aware of is that if they are buying 'hotkeys' (the marketing term for telephone-based activity where a consumer is transferred as a live call) they could be found liable by the ICO if they turn a blind eye to how these businesses are acquiring their data.”

Financial Adviser called the insurance review and validation centre number again to put these allegations to them and to seek a right of reply. 

After asking to be put through to Stacey, a call centre operative said there were “no Staceys working in that office”. He then spoke to a manager who told me she was in a different office and would call me back; I asked to be put through and the line cut off. 

I called again at 1:33 and spoke to a lady who said there were ‘many Staceys’ working there and she would look to see who the right person was that I needed to speak with. Stacey called me back within a minute of this call. 

The company was asked why they have been cold-calling, what lists they are using, whether they are in breach of ICO guidelines over data and whether they could provide their FCA number.

She said: “I will tell you what we will do. We apologise for disturbing you with an unsolicited call and will take your name off the lists.”

When the need to respond to these allegations within the deadline was put to them, and I asked for an email address to send these allegations in writing, I was informed an email would be sent to me. The line cut off at 1:39. 

No response has been received.

A spokesperson for the ICO said: "Organisations making marketing phone calls must make sure that they have screened names against the Telephone Preference Service or that they have permission of those they are calling to do so.

"Companies which buy in marketing lists are responsible for making sure that the people on those lists have given their specific consent to receive calls and that they haven’t withdrawn this.

“Nuisance phone calls can be distressing for many people and, when companies flout the law, we can take action against them under e-privacy laws. You have the right to ask a company to stop calling you and they must comply immediately, if they do not you can report your concern online to us.”

simoney.kyriakou@ft.com