As much as 64 million PPI policies were mis-sold in the last two decades. The Financial Conduct Authority, with powers better than its predecessor, is keen on ending the scandal on August 29, 2019. To aid their attempts to create awareness, it has hired Arnold Schwarzenegger’s iconic appearance as an animatronic robot to grab attention in commercials and inform people to make a claim as soon as possible.
The first commercial featured Arnold’s disjointed head with wheels walking and telling indecisive grocery shoppers to just “go for it” and make a decision. The newest commercial created by M&C Saatchi shows Arnold’s head urging people at the bus to decide about making a claim once again.
The animatronic robot uses Arnold’s voice in its dialogue.
The campaign has seen adequate success. According to FCA Chief Executive Officer Andrew Bailey, large firms found their mis-sold PPI queues to have increased. The FCA said it had asked firms to improve their complaints-handling processes anticipating huge mis-sold PPI claims in the next few months.
Banks had recently allocated mis-sold PPI funding despite seeing optimistic figures in recent quarters. RBS had reached £5.1 billion pounds for repayments while Barclays has now a total of £9.2 billion pounds as of December 31, 2017.