ANZIIF backs new guidance to boost broker support for vulnerable clients
ANZIIF backs new guidance to boost broker support for vulnerable clients | Insurance Business Australia
Insurance News
ANZIIF backs new guidance to boost broker support for vulnerable clients
Guidance released under Insurance Brokers Code of Practice
Insurance News
By
Roxanne Libatique
The Australian and New Zealand Institute for Insurance and Finance (ANZIIF) has endorsed the guidance note issued by the Insurance Brokers Code Compliance Committee (IBCCC).
This guidance note aims to aid brokers in meeting their responsibilities to identify and assist clients experiencing vulnerability, as required by the Insurance Brokers Code of Practice.
The Insurance Brokers Code of Practice sets a benchmark for conduct among code subscribers. It seeks to improve decision-making and customer interactions to better support those facing vulnerabilities.
Importance of IBCCC’s vulnerability guidance note
Commenting on the IBCCC’s vulnerability guidance note, ANZIIF said it acknowledges the importance of treating clients with understanding, empathy, and respect.
“Being part of a professional community focused on good customer outcomes is something we are passionate about,” said ANZIIF CEO Katrina Shanks.
ANZIIF course on the Insurance Brokers Code of Practice
ANZIIF provides a short course on the Insurance Brokers Code of Practice. This course is designed to help brokers incorporate the principles of the code into their everyday activities and shows how to support clients in line with the code’s standards for vulnerability.
So far, 316 ANZIIF members and 33 non-members have completed this short course on the Insurance Brokers Code of Practice.
Held earlier this month, the event offered various fundraising activities designed to support the efforts of the charity.
The long-standing partnership between ANZIIF and Guide Dogs SA/NT highlighted a shared commitment to supporting individuals with visual impairments or other special needs.
“Our iconic guide and assistance dogs are a crucial part of the services we offer, but we also provide many other vision services along with advocacy work for our community and funding assistance,” said Guide Dogs SA/NT CEO Aaron Chia in a previous statement.
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