Vulnerable Customers

>> Event Overview

The FCA have found following a thematic review that vulnerable customers are often not treated fairly. In fact many Insurers pricing models have taken significant advantage of these customers, often the more vulnerable the customer the more the insurer has loaded rates at renewal. Some of the UK's largest institutions have been guilty of proactively targeting these individuals and the regulator has had enough of Insurers and brokers balancing their books on the most vulnerable in our society. The FCA on Friday 28 September have announced they will be investigating dual pricing, a lot of this because of the advantage taken of the vulnerable - expect some serious action by the FCA.

Alan Chandler, Chartered Insurer, who is widely regarded as one of the top insurance trainers in the UK will look at how firms have been treating customers unfairly including some disturbing case studies. The presentation will include how the FCA define vulnerable customer, the measures all firms are expected to put in place and how the requirements on all firms are changing to make sure the most vulnerable are protected going forward. This continues to be a hot topic for the regulator and failure to comply leaves firms open to disciplinary measures from the regulator.

This presentation is aimed at brokers, underwriters, claims staff and IFA's..

>> Learning Objectives

By attending this event participants will be able to:

• Understand the background of the FCA's thematic review and why this became an issue.
• Who vulnerable customers are and who this definition includes.
• How to recognise vulnerable customers.
• How to deal with vulnerable customers.
• What firms should do/have in place.

>> More about our speaker

Alan has undertaken operational management roles in three major global companies. NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Ten years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom.