Context
The CII has published a summary of insights shared in two webinar sessions which Woodgate and Cark hosted with the CII to gain the perspective of claims professionals and, vitally, those with first-hand experience of neurodiverse conditions. Sarah Durkin, Director of Investigations, Woodgate & Clark, considers how to balance empathy and duty of care with the need to remain vigilant against fraud. She asks “how do we ensure the right support for genuinely vulnerable customers, while protecting the market from those who might exploit the system?”.
Key points to note
- In recent years, vulnerability in the claims process has become one of the most pressing issues for the insurance industry.
- Over half of UK financial services customers are now considered vulnerable – up from 44% in 2023 to 51% in 2024.
- The number of customers with mental health conditions has nearly doubled in just one year, from 10.2% in 2023 to 19.5% in 2024.
Durkin discusses the following issues:
- Recognising vulnerability early and consistently
- Flags for vulnerability at the first notification of loss (FNOL)
- Balancing fraud controls with fair outcomes
- Knowledge Sharing
- More than compliance