Vulnerable customers -wellbeing guidance for brokers

Supporting customers facing vulnerabilities

Customers can find themselves in a vulnerable position for many reasons. It could be because of their health, their financial situation, a recent life event or other circumstances.

Vulnerability isn’t always permanent and not everyone facing such challenges or characteristics will be struggling in the same way, or perhaps at all. They may, however, need different or extra help to avoid putting them at a disadvantage or risk of harm. At Zurich, we take care to listen to our customers in order to understand their circumstances so we can offer flexible, personalised help if needed.

Working together with brokers

We understand the importance of working together with brokers. As the first point of contact for our customers, you can help us better understand their needs and circumstances so we can provide the best possible service and support.

We want to make sure you have everything you need to help customers who might need extra support, whether that’s providing training and advice on identifying customers who might be in vulnerable circumstances, tailoring our solutions to meet their needs (for example, offering different ways to pay or providing extra support and advice on claims) or connecting customers with specialist teams who can offer more support and advice if needed.

Why it’s important to identify potential vulnerabilities

Failing to identify vulnerability can have serious consequences. Customers who don’t get the support they need may suffer harm, have negative experiences or make poor decisions. Businesses who fail to spot vulnerabilities and prepare for their impact could face reputational damage, regulatory action or financial loss.

Identify

Take the time to actively listen and recognise indicators of vulnerability (see ‘How to identify potential vulnerabilities’ below).

Engage

Use information given by customers to decide what to do next. By paying close attention to their experiences, you can help us to understand their circumstances and needs and provide the right support. 

Support

Take a proactive and personalised approach to supporting customers’ needs. Don’t assume what the customer wants - check their preferences or needs with them. 

If need specialist support beyond our expertise, we’ll connect them with the right help. Zurich Support Services is included with all Zurich policies, offering 24/7 assistance on issues ranging from everyday worries to major life events, whenever it’s needed.

Signpost

Zurich policyholders have access to Zurich Support Services, which offers impartial help and support on a wide range of issues, including access to up to five sessions of professional counselling. 

Customers may need specialist support that neither you nor Zurich can provide. It’s important to understand when to refer customers to organisations or charities that may be able to provide better, more specific support. For more information, refer:

How to identify potential vulnerabilities

The demands and pressures of life can affect anyone. At some point in their lives, many people may need support with their wellbeing. Below, we have provided guidance on how to identify when someone might need support across four key areas of wellbeing. It is important to consider this information as a guide - none of these indicators in isolation mean someone is definitely struggling. Customers may also be experiencing challenges across more than one of these areas at any given time. 

Financial wellbeing

Financial wellbeing is about feeling secure that you have enough money to cover your needs, being able to manage daily finances and having the freedom to make choices that let you enjoy life, and having the skills and knowledge to make smart decisions with your money. Below are some of the possible indicators that someone might be struggling with their financial wellbeing.

Signs to look out for:

  • They are unable to make payments on time
  • They request to reduce their premiums or cancel their policy as a result of stretched finances
  • They don't have enough money to cover their policy excess
  • They appear confused or are having difficulty understanding the conversation

Mental wellbeing

Mental wellbeing is about thoughts and feelings and how people cope with the ups and downs of everyday life. It’s not the same as mental health, although the two can influence each other.

Signs to look out for:

  • Low mood, for example, a flat, slow way of speaking
  • Poor concentration
  • Talking very fast, jumping between topics or ideas
  • Worrying, feeling overwhelmed by things, or finding it hard to make decisions
  • Difficultly controlling emotions; being tearful or upset, or showing signs of aggression, irritability or short temper

Social wellbeing

Social wellbeing is about making and maintaining meaningful, positive relationships and regular contact with other people, such as family, friends, neighbours and co-workers.

For various reasons, some people may be more susceptible to social isolation and loneliness.

Signs to look out for:

  • Extreme variations in mood
  • Difficulty concentrating or making decisions
  • Expressing feelings of being overwhelmed by things
  • Being tearful or emotional
  • Not wanting to end a conversation

Physical wellbeing

Physical wellbeing is the ability to maintain a healthy quality of life and get the most out of daily activities without undue fatigue or physical stress.

Certain physical characteristics may also mean customers need to access our products, services and communications in different ways.

It’s important to ask customers about their needs and preferences and be able to discuss the options available. At Zurich, we should always be prepared to follow up in writing where it would benefit our customers.

We can offer customers alternative communications including, but not limited to:

  • Digital channels
  • Convo for customers who want to get in touch using British Sign language and have registered for its services
  • Relay - a type / textphone service for customers who are deaf or hard of hearing
  • Written communications in large print or braille
  • Translator services

Case study – supporting a customer’s financial and mental wellbeing

The scenario

A broker contacted one of our underwriters to raise concerns on behalf of their client (our customer). The client’s business had closed, resulting in the business property being unoccupied and a lack of income. This had caused them significant financial difficulty which was also affecting their mental health. The broker explained that due to their financial situation, the client wanted to dramatically reduce their building sum insured.

The challenge

Doing so would have left them significantly underinsured. It also wasn’t possible to remove the additional premium charged, as the mid-term adjustment had already been bound. The case was raised with a Zurich wellbeing champion and several options were discussed.

The solution

One of our underwriters approached our accounts team, who agreed to defer the additional premium charge for two months to allow the sale of the property to go through. The policy could then be cancelled, allowing a pro rata return.

Taking time to review the situation and discuss the options with our wellbeing champion and accounts team enabled us to achieve a better outcome for the customer, easing some of the financial pressure they were facing and subsequently the impact on their mental wellbeing.

Further information 

You can find out more about our support for customers with vulnerabilities in our broker guide below.

If you have further questions, you can get in touch using your usual method. Our team members can reach out to their customer wellbeing champions, who can offer guidance and support as needed.