Press Release – Financial Markets AuthorityFMA Executive Director of Response and Enforcement Louise Unger says: Manual processes used to identify customers with more than one policy failed and customers eligible for discounts were not identified. The Financial Markets Authority (FMA) – Te Mana Tātai Hokohoko – has issued a public warning to Aioi Nissay Dowa Insurance (AIOI) for failure to apply advertised discounts to customers purchasing their motor vehicle insurance policies. FMA Executive Director of Response and Enforcement Louise Unger says: “Manual processes used to identify customers with more than one policy failed and customers eligible for discounts were not identified. They have taken proactive steps to identify all affected policy holders, notify them and make remediation payments. “The FMA has a number of tools available, and we consider that a public warning is appropriate in this case.”Content Sourced from scoop.co.nzOriginal url