ANZIIF reveals new training to support vulnerable customers
ANZIIF reveals new training to support vulnerable customers | Insurance Business Australia
Insurance News
ANZIIF reveals new training to support vulnerable customers
Free webinar to be held in conjunction with course launch
Insurance News
By
Roxanne Libatique
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has launched a new training course titled “Creating Good Outcomes for Customers Experiencing Vulnerabilities.”
This initiative is designed to enhance the ability of insurance professionals to identify and support customers who may be facing a variety of challenges, including domestic violence, financial difficulties, or cultural differences.
ANZIIF’s new short course
The course targets insurance professionals across multiple functions – such as underwriting, brokering, claims handling, and customer service – offering them tools to handle sensitive situations with care and professionalism.
ANZIIF CEO Katrina Shanks said that legislators, regulators, and insurance professionals are focused on good customer outcomes.
“This course has been created to foster deep connections and understandings with clients so that insurance professionals can make a positive impact on those they serve,” she said.
The new course builds on ANZIIF’s existing training portfolio, including the Empathetic Claims Management Short Course, which similarly aims to help professionals offer tailored, compassionate support to vulnerable customers.
ANZIIF’s new webinar
In conjunction with the course launch, ANZIIF will also be hosting a free webinar in its Thursday Thought-Leaders series.
The session, titled “Domestic Violence and Vulnerability: AFCA’s Approach to Insurance Complaints,” will be led by Emma Curtis, lead ombudsman for insurance at the Australian Financial Complaints Authority (AFCA).
The webinar will focus on how insurers can better handle complaints involving vulnerable customers and improve their overall response to these sensitive issues.
The video explores the risks that IT outages pose to businesses and how insurers can support their clients in mitigating cyber and business interruption risks.
In a previous statement, Shanks highlighted the importance of insurance expertise during such incidents.
“In these changing times, it has never been more important to understand the needs of your clients and the insurance products which provide your clients with the right protections and peace of mind,” she said.
Impact of CrowdStrike outage
The CrowdStrike incident affected various industries, particularly those with high availability demands, such as healthcare and airlines.
According to Fitch Ratings, the financial impact on global insurers is expected to be moderate, with insured losses projected to reach mid- to high-single-digit billions of dollars. Business interruption and cyber insurance are expected to bear the brunt of these losses, although other lines, such as technology errors and omissions, will also see some impact.
Fitch noted that policy provisions such as time element clauses, high deductibles, and sub-limits will help contain the financial exposure for insurers
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