MorganAsh has launched a new customer portal called It’s Who I Am, designed to give customers the information and confidence to disclose potential vulnerabilities to firms.
The new portal works in tandem with the MorganAsh Resilience System (MARS) and will be provided to consumers when they receive a request from firms to complete a MARS vulnerability assessment. The portal provides additional information and a range of resources to not only assure customers that the assessment is genuine, but to clarify why it is beneficial to the customer to disclose.
In line with the requirements of Consumer Duty, many firms have implemented platforms such as MARS to assess and manage customer vulnerability and ensure good outcomes. Through MARS, each consumer receives an email invite to complete an online questionnaire,or the opportunity to complete the questionnaire with their adviser. In more complex cases, a MorganAsh nurse can undertake the assessment with the consumer, while MARS can also check against the Vulnerability Registration Service for any consumers that have notified another organisation of potential difficulties.
The firms said that whatever the approach, engagement is key to getting the highest response rates – and acceptance from the consumer.
The new portal is an important resource which can go before or alongside this assessment request to help firms build trust and gain the confidence of customers. The portal will continue to be developed over time, bringing together more resources for firms to encourage and support their vulnerable customers. The hope is that the platform will increase education around why disclosing vulnerability information is so important and how it can be of benefit to them.
Andrew Gething, managing director of MorganAsh, said: “While we’ve been really encouraged by the high response rates seen through MARS, we know that some firms are fearful how customers will handle a call for assessment. Our new portal is an added feature toenable firms to engage with and build trust with clients – and increase education around the positive role that assessment can play in delivering a far better service – to all clients not just those with vulnerable characteristics.
“We wanted to build something that stands on its own two feet to best support any organisation or consumer to understand why we are engaging with them on these personal issues. Customer trust is absolutely critical and by providing this resource, we will hopefully allay any fears and empower them to engage. We feel it’s important that we help firms to position any assessments and subsequent interactions in a positive way.”
