DOING WHAT’S RIGHT FOR THE CUSTOMERS
Regulators across just about every sector we are engaged in have made 'vulnerable customer' policy a priority and will continue to do so for the foreseeable future.
Ensuring that customers in vulnerable circumstances are protected and receive fair outcomes is not just a regulatory requirement, it’s a moral duty for firms supplying essential products and services. Doing your part for vulnerable customers also leads to continued customer advocacy and loyalty among customers.
But identifying customers in vulnerable circumstances – and taking action to support them – is not a simple matter. “Vulnerability” can be a permanent state (resulting from disability, for example) but it can also be a temporary state caused by one of life's many challenges.
A PROVEN TRACK RECORD
Huntswood has a long history in delivering projects that deliver fair outcomes for vulnerable customers. Our advisory expertise and operational finesse allow us to ensure that all of your customers receive the best service possible.
Huntswood can help your firm write the policies and governance strategy that underpin your approach to supporting customers in vulnerable circumstances. We then embed the systems and resource needed to monitor, respond to and protect those who most need it.
How does your firm stack up to the industry average? Are you delivering fair outcomes? How would you rate your ability to detect signs of vulnerability?
Use the Huntswood self-assessment tool to benchmark your firm’s performance today. It’s free, secure and simple to complete.
Firms must ask themselves how they will ensure effective delivery of suitable outcomes in a way that engages senior management, is aligned to strategy, culture and business model, is tailored to the firm’s customers and ensures that the key benefits are delivered.
We can provide assurance on your firm's vulnerability framework, and even support in the creation of a whole new strategy that will be fit-for-purpose for years to come.
Ensuring fair treatment of customers in financial difficulty
Eliminate the contact centre queue and see customer satisfaction rise as a result
Take a customer-centric approach to business
Getting the ‘nuts-and-bolts’ right will set your firm up for success
The FCA have published the final findings of their General Insurance Pricing Practices Market Study and have set out a package of remedies to address the concerns identified
Building a methodology for establishing, monitoring and responding to customer outcomes now, will help firms to deliver better value for money to customers in the future
Listen to our experts delve into the wide reaching topic of pricing and value in the General Insurance sector
With the FCA feeling that firms have fallen short of regulatory expectations, what considerations should firms be looking at to put things right?
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