Huntswood consultancy firm has revealed there may be hope for payment protection insurance (PPI) and its future profitability.

In a recent report it said its structure and selling practices must be addressed, but believed that forward thinking firms would already have taken action to mitigate any company specific intervention from the FSA. It said companies would "use PPI as a driver for broader TCF improvement."

Eufron Jones, head of consulting at Huntswood, predicts the winners in the new protection market will be those who "minimise the impact on sales by rapidly redesigning products, processes and re-establishing confidence for their customers and the market."