UK insurer gets to grips with vulnerability - Davies

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UK insurer gets to grips with vulnerability

Davies were asked to assess and recommend how to close gap on FCA vulnerable customer regulation requirements.

c.$1.1bn

revenue

c.2.1m

customers

1.7k

employees

50%

UK adults have characteristics of vulnerability

The challenge

Davies were asked to assess and recommend how to close gap on FCA vulnerable customer regulation requirements. 2-year program stalled under BAU pressures, complex approach adopted hampered business efficiency, and needed a more pragmatic approach to manage vulnerability effectively.

Our solution

Delivered a 12-point assessment to uncover service gaps.

Identified multiple areas to improve standards.

Designed pragmatic solutions to satisfy FCA vulnerable customer regulation.

Built governance and formed joint-delivery team represented by key functions.

Mobilised, delivered and led business to initiate full roll-out in 10 weeks.

Davies created a simple and clear way to manage vulnerable customers.

 

Our impact

  • Now have a method & framework to track & manage customer vulnerability & distress
  • 100% of contact benefit from assessment resulting in 5% contact reduction
  • The implemented framework has raised the bar for all services

Meet our specialists

Philip Michell

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