Supporting Clients Experiencing Vulnerability or Financial Hardship
Policy & Guidance Statement
Our commitment
- SureInsure recognises that anyone can experience vulnerability at any time, and we are committed to identifying, supporting and advocating for clients who need extra care.
- This policy sets out how we meet our obligations under the 2022 Insurance Brokers Code of Practice to identify and support vulnerable clients, and how clients and staff can access help.
Why This Matters
Everyone is at risk of experiencing vulnerability at some point in their life. As a financial services provider, SureInsure has an ethical and moral obligation to treat clients experiencing vulnerability with respect, dignity and compassion, and to provide appropriate assistance.
As insurance brokers, our team plays a crucial role in identifying, acknowledging, assisting and advocating for clients experiencing vulnerability – particularly at the time of a claim, when clients rely heavily on our guidance to navigate what can be a stressful and confusing experience.
This applies equally to individuals and to small business clients, where personal and business circumstances often overlap and an incident affecting one can quickly affect the other.
Understanding Vulnerability
Everyone is at risk of experiencing vulnerability at some point in their life. As a financial services provider, SureInsure has an ethical and moral obligation to treat clients experiencing vulnerability with respect, dignity and compassion, and to provide appropriate assistance.
As insurance brokers, our team plays a crucial role in identifying, acknowledging, assisting and advocating for clients experiencing vulnerability – particularly at the time of a claim, when clients rely heavily on our guidance to navigate what can be a stressful and confusing experience.
This applies equally to individuals and to small business clients, where personal and business circumstances often overlap and an incident affecting one can quickly affect the other.
Definition
A vulnerable client is a person who, due to their personal circumstances, is particularly susceptible to harm – especially where SureInsure fails to exercise appropriate care. Vulnerability may be permanent, temporary or sporadic, and can arise suddenly through unexpected or complex events.
Key drivers of vulnerability include:
Health | An illness, injury or mental health condition that affects a person’s ability to undertake everyday tasks. |
Life events | Bereavement, extreme weather events, job loss or relationship breakdown affecting a person’s capacity to cope. |
Resilience | Financial, physical or emotional circumstances that limit a person’s ability to withstand difficult times. |
Capability | Limited knowledge, confidence, literacy or digital skills needed to deal with financial and insurance matters. |
Other factors that may contribute to vulnerability include:
- Age (including young people and older clients)
- Disability
- Mental and physical health issues
- Language or literacy barriers
- Family and domestic violence
- Cultural background
- Aboriginal or Torres Strait Islander status
- Remote location
- Financial distress or hardship
Our Commitment Under the Code
As a subscriber to the Insurance Brokers Code of Practice, SureInsure commits to:
- Collaborating with clients who require additional support to explore suitable solutions, including access to specialist third-party support where appropriate.
- Maintaining policies and staff training programs that build awareness and recognition of vulnerability and financial hardship.
- Conducting every interaction with vulnerable clients with sensitivity, dignity, respect and compassion.
- Referring vulnerable clients to specialist services when it is appropriate to do so.
How We Support Clients
Identifying vulnerability and hardship
Our staff are trained to look out for signs that a client may be experiencing vulnerability or financial hardship, including changes in communication, missed payments, distress during a claim, or a client directly telling us about their circumstances. We use our own client data and interactions to proactively identify clients who may need extra support, and we encourage clients to tell us if they need adjustments to how we work with them.
Working with clients
Where a client tells us – or we identify – that they are experiencing vulnerability or financial hardship, we will work with them to understand what support will help, adapt our processes where possible, and refer them to relevant specialist services. There is no one-size-fits-all approach: our staff are empowered to exercise judgement and adapt their response to each client’s circumstances, including referring the client to a colleague or specialist team where that will provide better assistance.
Staff training
SureInsure invests in training so our staff can recognise and respond to vulnerability with confidence and compassion. This includes training on engaging with clients experiencing financial hardship, family and domestic violence awareness, trauma-informed practice, cultural competency (including for Aboriginal and Torres Strait Islander clients), and working effectively with older clients.
Accessible service
We offer multiple ways for clients to contact us and will work with clients to identify their preferred communication channel. Where needed, we can arrange access to Translating and Interpreting Services (TIS National) and the National Relay Service, and we aim to communicate in plain English.
Privacy and sensitivity
Information a client shares with us about their vulnerability or hardship is handled sensitively and in accordance with our privacy obligations, and is used only to provide appropriate support and service.
Financial Hardship
Financial hardship can affect any client, and often arises alongside other forms of vulnerability. If a client tells us they are experiencing financial hardship, or we identify signs of this, we will:
- Listen without judgement and treat the client with respect and compassion.
- Discuss the client’s circumstances and explore options relevant to their policy and premium arrangements.
- Refer the client to their insurer’s hardship provisions where relevant, and to independent financial counselling or hardship support services.
- Keep a record of the support provided so the client does not need to repeat their circumstances unnecessarily.
Support Services We Can Refer Clients To
Depending on a client’s circumstances, SureInsure may refer clients to specialist support services, including:
- National Debt Helpline – free, independent financial counselling: 1800 007 007
- 1800RESPECT – family and domestic violence counselling and support: 1800 737 732
- Lifeline – 24/7 crisis support: 13 11 14
- Translating and Interpreting Service (TIS National): 131 450
- National Relay Service: 1300 555 727
- Australian Financial Complaints Authority (AFCA), for unresolved complaints: 1800 931 678
SureInsure will assist clients to access these services and, where appropriate, coordinate directly with them on the client’s behalf.
Support Services We Can Refer Clients To
SureInsure’s leadership team oversees how we identify and support vulnerable clients, incorporating this into our compliance and risk framework and reviewing our approach periodically. We collect and act on client feedback to improve our services, recognising that the absence of complaints does not necessarily mean the absence of problems – particularly for clients who may face barriers to speaking up. Where necessary, we seek external expertise to strengthen our approach.
Understanding Vulnerability
If you or someone you know needs additional support when dealing with SureInsure, please let us know. You can reach our team on:
Contact SureInsure
- Phone: 07 3519 6999
- Email: Enquires@sureinsure.com.au
This policy is reviewed periodically to ensure it continues to reflect best practice and our obligations under the Insurance Brokers Code of Practice.