BLM has published an analysis of the data captured within the Ministry of Justice RTA portal.
The full report can be accessed here.
Key conclusions from the data include:
NFs sent – if the present position is maintained, the annualised projection would be 857,785. As the total CNFs for 2014/15 was 864,708, our projection when compared with last year’s figure remains unchanged and suggests a marginal reduction (0.8%), year on year.
Stage 1 - if the present position on exits is maintained, the annual projection would be 213,943, a decrease year on year of 7.1% – a positive sign. Stage 1 exits as a percentage of CNF’s sent remains effectively unchanged, averaging 24.3% of all CNFs sent.
Stage 2 - if the present position on exits is maintained, the annual projection would be 12,874, a decrease year on year of 3.1% – a positive sign. Stage 2 exits as a percentage of CNF’s sent remains consistently below 2%.
General Exit Process - YTD total is 168,185, up 14,278 (+ 9.3%) when compared with the same period last year. The annual projection for 2015/16 would be 183,475, which would represent an increase of 14,261 (+ 8.4%). Whilst the reduction in Stage 1 and Stage 2 exits is a positive sign, the increase in the number of claims using the General Exit process warrants enquiry by customers to establish the reasons for this increase.
Claims YTD that either settled at Stage 2 or proceeded to Stage 3 together total 247,107 (31.4% of the YTD total of CNFs sent), which is a rise in last year’s like-for-like figure of 235,996 (29.8% of the 2014/15 YTD total), and represents increased indemnity spend.
The number of Stage 3 packs prepared has risen to 15.9% of the CNFs retained, which is the largest number of Stage 3 packs prepared in real terms this reporting year.
Retained claims unaccounted for by a Stage 2 settlement or a Stage 3 pack total 166,489 YTD (21.8% of CNFs sent during March). Analysis will be required at customer level to track the progress and lifecycle of claims which appear to stall at Stage 2 before being abandoned or resurrected, given that the Portal is not capable of capturing such information.