Modern Insurance Magazine Issue 62

EDITORIAL BOARD
Providing Fair, Flexible
and Inclusive Services
Since 2015, the Financial Conduct Authority
(FCA) has urged the financial sector to
offer extra support for customers in need of
additional care, formerly known as ‘vulnerable
customers’. However, circumstances can be
wide-ranging and complex, leading to an
individual or their family needing further
assistance adjacent to that of their insurance
claim.
The pandemic changed everything for some people, and our eyes
have been opened to the broader issues that may affect a person’s
ability to understand and navigate the claims process. Someone
who didn’t need additional support at the outset of the pandemic
may have since experienced a loss of income or bereavement, stress
or loneliness - factors that may now leave them anxious or hesitant
to communicate. Furthermore, the cost-of-living crisis has added
pressure that may also result in a change of behaviour or personal
circumstances.
That’s why we’ve enhanced our existing provision for customers who
may be experiencing a wide range of issues or changes that make
their lives harder. We are now in a position to provide exactly the right
support for their needs through the clinically-led Crawford Customer
Enhancement Service. We have built a dedicated solution rooted
in clinical practices to help the industry identify and assess the risk
category for each customer, ensuring the claims process is adjusted to
help customers feel more comfortable and secure.
Each member of the team has a background in Occupational Health,
Medicine or Social Care (as well as a counselling qualification), all of
which creates the perfect environment for customers to share their
experiences. As a consequence, this allows the most appropriate
adjustments to be made.
Since we introduced the service, we have seen a variety of referrals
to our Customer Enhancement Service team, covering issues such as
bereavement, disability, isolation, complex trauma and PTSD, financial
difficulties, depression, suicidal ideation, and anxiety.
Use of our Individual Assistance Plan (IAP) support has also increased.
Alongside the live support from our Customer Enhancement Advisors,
our IAP provides wrap-around support to customers during and after
their claim. At no extra cost to the client, we can provide customers
with access to a wide range of support services based online, via an
app or telephone, with services available 24 hours a day, 365 days
a year. This also includes access to BACP accredited counsellors,
financial advisors and legal assistance.
Since introducing our new service for specific clients, we have
witnessed a 51% reduction in elapsed settlement times, a 50%
reduction in complaints, an 18% increase in compliments, and a 36%
reduction in indemnity spend. This approach is not only good for the
customer and compliance; it also makes great business sense.
Hannah Gardner,
Customer Enhancement Service Lead, Crawford & Co.
Consumer Duty Regulations
and the World of Vehicle
Recovery
As the Financial Conduct Authority (FCA)
introduce their new Consumer Duty
regulations, insurers are asking many
companies in the claims supply chain about
how they plan to set the higher and clearer
standards of consumer protection required,
and how they intend to put the needs of the
customer first.
It’s probably fair to say that, save for the last few years, roadside
recovery hasn’t been at the top of everyone’s supply chain agenda.
As a result, vehicles would regularly be recovered by the Police or
Highways authorities at substantially inflated charges, and then ‘lost’
or left in storage for some considerable time.
However, the market has moved on, and it’s now widely recognised
that the recovery agent and their driver is, on many occasions, the
only face of the insurer brand that the customer will ever meet in
person. Therefore, it’s hugely important that the experts taking the
initial call have undertaken in depth vulnerability assessments, and
that the attending driver is clear and concise in terms of next steps, as
well as the options open to the customer around onward transport.
At NWVA, these vulnerability assessments are not new. However, we
recognise that it’s no longer as simple as having young children in
the car, or an elderly person on a country road. Vulnerability is much
broader than that, and it’s a key part of what we do when assessing
recovery needs.
Looking after the customer and not just the vehicle is central to our
assessment process, as well as a core part of our drivers’ ongoing
development programme. We recognise that accidents are distressing
enough, and being left with a damaged or undriveable car at the side
of the road only leads to increased stress. Therefore, arrival times and
continual communication with the customer is absolutely paramount.
To find out how we can help your customers, please contact the team
at sales@nwva.co.uk or by calling 01621 730039. You can also visit our
website at: www.nwva.co.uk
Mick Jennings,
Managing Director, Nationwide Vehicle Assistance (NWVA)
MODERN INSURANCE | 25