CII Set to Deliver Vulnerability Research Programme With Chartered Firms
Road to Consumer Trust
The Chartered Insurance Institute (CII) is partnering with Three Hands Insight and Chartered firms to improve the sector's understanding of vulnerability management, and gain new insights and ideas to ensure more inclusive outcomes.
The CII has sponsored the participation of Allianz, Chubb, Cornish Mutual and Covea to combine their customer outcomes expertise with lived experts' and charities' insights to create new guidance and good practice.
The partnership with Three Hands Insight builds on the CII's Road to Consumer Trust campaign, which supports firms with the practical implementation of Consumer Duty, with a focus on vulnerability management, and forms the first in a series of societal initiatives that the CII will be delivering with Chartered firms to create new standards, tools, and resources for the profession.
Launching today (24 February), during Chartered Week, the project aims to enrich firms' understanding of vulnerability management by learning directly from members of a Three Hands Lived Expert Research Community, who will represent a range of vulnerabilities, such as ill health, physical disability, dementia, visual impairments, neurodiversity and unpaid caring responsibilities.
Focus areas for the research will include identification and disclosure, experiences with claims, and financial exclusion, and involve practical learning such as feedback from participants on paper or digital communications, as well as hearing about incidents where participants have been unable to obtain insurance due to their circumstances, and the impact this caused.
Michael Hilton, Director at Three Hands Insight, said
"This project with the CII and leading insurance businesses is a brilliant opportunity to improve outcomes for vulnerable customers across the UK. We know how powerful it is to learn directly from those with lived experience so we are thrilled to bring our immersive insight approach to the insurance sector."
Matthew Hill, CII Chief Exec, said:
"We are delighted to be working with Three Hands Insight in delivering this opportunity for firms to get to grips with vulnerability. The CII is committed to strengthening the sector's understanding of how best to support customers in vulnerable circumstances, which is a vital element of building a profession in which the public can trust."
