Written by Sam Turner on 14 March 2019
The financial services industry is lagging when it comes to identifying and servicing vulnerable customers, putting them at risk of both regulatory and reputational damage. While some businesses seem to be making progress – writing vulnerable customer policies, training staff and adopting front-line techniques – there is still a lot to be done. Identifying vulnerable customers requires empathy, not just skill and awareness, and financial services firms can learn a number of lessons from other sectors that have successfully tackled the issue. Measures to be taken include an approach of continuous testing, sharing best practice and empowering employees, but the most important point is that companies must not see it as a tick box exercise. With the upcoming consultation from the FCA, firms that fail to address their handling of vulnerable customers will soon find themselves under scrutiny from the regulator.
Altus Consulting joins Insurtech UK as consultancy partner
Written by Mark Andrews on 12 March 2019
Altus Consulting, a leading financial services consultancy, has officially become a partner of Insurtech UK, joining the first wave of associate members and partnership sign-ups of 2019. With the aim of becoming the definitive voice of the InsurTech community in the UK, the alliance has welcomed over 40 InsurTech start-ups since its launch in November 2018.
Altus helps Headlight make Christmas brighter for mental health patients
Written by Altus on 17 January 2019
Altus has raised £480 for the Headlight Mental Health Charity.