Aviva shares its Vulnerable Customer policy

Authored by Aviva

The FCA published FG21/1 Guidance for firms on the fair treatment of vulnerable customers in 2021 and part of that is the expectation that firms ‘make sure staff have the right skills and capability to recognise and respond to the needs of customers in vulnerable circumstances’.

Having an approach and policy for managing customers with vulnerable characteristics is important. We’re sharing our Aviva Vulnerable Customers policy, you can use this as a basis to develop or enhance your own.

Aviva’s definition of a customer in a vulnerable situation is ‘someone who, due to their personal circumstances, is potentially susceptible to detriment, requiring Aviva or a Partner to provide an enhanced and focused level of care’.

Characteristics of vulnerability can be complex and overlapping. For example, a life event like a relationship breakdown or bereavement may lead to further vulnerability such as mental ill-health or low resilience. This may be made worse if the customer has low or limited capability to engage with financial services or to manage their finances.

If you’d like more information and guidance on what to do for Vulnerable Customers, you can also watch the recording of our webinar that took place when the FCA guidance was launched. There are also training modules available on Aviva Development Zone. If you’re not signed up already, you can register for a 30-day free trial and begin your learning straight away. 

If you have a vulnerable customer and need assistance, please contact your relevant claims, collections, service area or Business Development Manager for help with their specific needs.

To download Aviva’s Vulnerable Customer Policy CLICK HERE