Amit Mistry, proposition manager at Scottish Widows, wants lived experience to be incorporated and involved in the development of insurance products.
He recommends: “Throughout the industry, opportunities to share best practice must be taken. We must all work together to remove blockers where they exist. Industry must work with individuals with different vulnerabilities to make sure products and services are created and developed with vulnerable customers at the heart of their propositions.”
Moneysworth's Wilkinson says being compassionate and learning to see the perspective of those with lived experience is a large part of the answer.
“There are important lessons we can all learn and the first is that we have to start by [walking] in the shoes of the client. Until we do this we are likely to look only through the lens of insurer risk management.
"I wonder how much thought previously went into considering the negative impact of these decisions on the customer’s wellbeing? With imagination and compassion, ‘it’s just too risky’ has been replaced with 'we now have a solution that works for you and for us'.”
Anita Boniface is a freelance journalist
