Financial inclusion, including affordability, is a core priority of regulators and businesses. Being able to offer the best-in-class experience and make accurate decisions is integral and an ongoing strategic investment for nearly every business in every sector, including insurance.
Understanding components of customer affordability at the earliest opportunity is vital for making accurate affordability checks as part of the customer journey. This will help identify customers undergoing financial difficulty, giving better outcomes as customers can be offered appropriate payment options tailored to their circumstances, ensuring potentially vulnerable customers are treated fairly.
In this webinar, we looked at how you can work towards meeting the FCA guidance around affordability checks.
Listen to this webinar to hear experts cover the following areas:
- Current affordability landscape for insurance
- What has the FCA said on the subject?
- The challenge for insurance
- The opportunities for insurance and benefit to customers
- How can you perform affordability checks to inform decisions
Contact us for the live survey results from this webinar.
*Please be aware the webinar starts two minutes in, cutting out the speaker introductions. The speakers are Jes Westerman and Richard Langhorne who are both Senior Business Consultants and experts in the insurance industry.