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 on-demand webinar we look at how insurance companies can work towards meeting the FCA guidance around affordability checks.