VULNERABLE INSURANCE CUSTOMERS UNDER THE SPOTLIGHT

April 17, 2019

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Insurance companies may have a bigger challenge on their hands when it comes to identifying vulnerable customers, as new research from data analytics company Consumer Intelligence reveals three quarters struggle to understand or feel overwhelmed by information provided by their insurer. In contrast, the national survey of 1,000 consumers discovered that only 13% of respondents would consider themselves vulnerable by the FCA definition: “someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care.” Prior to completing the survey, only 52% knew of the term, but once explained 48% said they knew someone who they would class as a vulnerable customer.  The contrast highlights the scale of the challenge that insurance brands face in identifying vulnerable customers.

Spotlight

Devitt Insurance Services Ltd

We've been arranging insurance for UK customers since 1936, providing excellent customer service that is both helpful and clear. We offer competitive prices on motorbike insurance, car insurance, van insurance, home insurance and business insurance including specialist insurance policies for dealers and training schools. Comparing quotes from the UK’s biggest insurers including Ageas, Aviva, AXA, Chaucer, Equity, LV, NIG, Provident and many more, we’re here to find the right insurance for you, at the best price.

OTHER ARTICLES
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Spotlight

Devitt Insurance Services Ltd

We've been arranging insurance for UK customers since 1936, providing excellent customer service that is both helpful and clear. We offer competitive prices on motorbike insurance, car insurance, van insurance, home insurance and business insurance including specialist insurance policies for dealers and training schools. Comparing quotes from the UK’s biggest insurers including Ageas, Aviva, AXA, Chaucer, Equity, LV, NIG, Provident and many more, we’re here to find the right insurance for you, at the best price.

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