How to treat vulnerable customers fairly
With the FCA bearing down on the need to ‘Treat (Vulnerable) Customers Fairly’, Eddie Longworth and Hugh Hessing‘s new White Paper examines the key issues.
The FCA is expecting every regulated organisation to have a plethora of new internal processes, measurements, and reporting to tackle what they see as a major requirement. From product design to pricing, claims to underwriting, marketing to management, the level of expectations from the FCA is very high. This White Paper asks the key questions you need to answer and provides an overview of where you need to be taking urgent action. With an estimated 24m vulnerable people, you can be sure that every part of your organisation will be affected.
In their article, they include:
- Why introducing measurement and motivation is important.
- System considerations for vulnerable customers.
- Your responsibility for suppliers.
- Why it’s important to break down department silos & have company wide initiatives to help achieve better results.
