Identifying vulnerable customers

MARS’s unique ‘Resilience Rating’ turns a complex, nuanced customer vulnerability assessment into something that is both understandable and transportable.

“Like everyone, I think I know my clients, but MARS highlighted some with significant vulnerabilities – clients with alcohol dependency issues, and clients who have had cancer. Those stood out, but there is a wealth of detail across the board.”

— Paul Russell, chartered financial planner

Expert assessments, without being an expert

Vulnerabilities are not binary. For example, in the same way that people are not just rich or poor, people are not either totally blind or fully sighted – there is a wide range of vision impairments. In addition, people may employ coping mechanisms to compensate for a vulnerability. And of course, vulnerabilities can change over time. You can be born with impaired vision, you can have a progressive condition – or indeed, a condition can be reversed. When you consider this, it’s clear that a checkbox for ‘sight issue’ is not helpful.

This is why MARS uses a unique ‘Resilience Rating’. This measures the severity of a vulnerability, not just that it exists. It also allows for coping mechanisms which partly, or totally, mitigate that vulnerability – so firms can record it, and understand what actions are needed, if any. MARS also allows vulnerabilities to be tracked over time and assessed in the context of specific circumstances.

Managing multiple vulnerability characteristics

Identification can become more complex in the real world, where (of course) people have multiple vulnerability characteristics at the same time. MARS is built for this reality, considering characteristics of physical and mental health, wealth, life events (such as bereavement or divorce), the ability to understand financial conversations, the ability to engage and the person’s support network. All of these are tracked over time. Individual ratings are provided for each category, and this is aggregated into an overall measure of a person’s resilience. It’s powerful – providing detail when you need it and an overall rating to just communicate vulnerability at a high level.

Customer vulnerability in context

MARS also understands circumstances – for example, some vulnerabilities have little or no relevance with some products or services but could result in disastrous outcomes in others. MARS takes this into account, dealing with vulnerabilities in context – and allowing for this to change.

MARS does all of this for you

You could train all your front-line staff, advisers and agents to understand every one of the many possible consumer vulnerabilities – and their combinations and contexts. Or you can get MARS to do this for you – and more – which is typically far easier, simpler, faster and cheaper.

VRS - Vulnerability Registration Service

MARS is integrated with the Vulnerability Registration Service – the only cross-industry register of vulnerable consumers.

Software and services to assess, identify, monitor, support and report on vulnerable customers

Assess • Identify • Monitor • Support • Report

  • “I am so pleased that I found the MARS system; I am very happy to be improving my client care and responsibilities.”

    — Danny Thomas, director, Clocktower Support

  • “Like everyone, I think I know my clients, but MARS highlighted some with significant vulnerabilities – clients with alcohol dependency issues, and clients who have had cancer. Those stood out, but there is a wealth of detail across the board. As much as you can ask all the questions and may be doing good fact-finds, the MARS assessment brought out information that I just didn’t know. MARS puts me in a far better position than before. I didn’t have any information like this, or evidence of client vulnerabilities.”

    — Paul Russell, chartered financial planner

  • “The MARS vulnerability report provides valuable live data as to whether a client will get health-rated for life insurance and/or permanent health insurance. It also allows vulnerability tracking throughout the conveyance – which is vital under Consumer Duty.”

    — Mike Kellett Cert PFS Cert CII(MP) Cert ReR, director, Forbes Consultancy

  • “Since using MARS, I have discovered more characteristics of our clients – even though I have known them for years. It also allows our business to give clients a platform to voluntarily let us know if they may be temporarily vulnerable, so we can meet their needs.”

    — Sam Whybrow CFP AFPS RLP, chartered financial planner

  • “This is a positive step forward in eliminating inconsistent outcomes and potential harm for consumers and ensuring that we always provide both the best advice and the best products for every client every time.”

    — Nici Audhlam-Gardiner, CEO, Foresters Financial UK

  • “The MorganAsh MARS tool offers firms an outsource capability and credible solution to achieve that aim and deliver proportionate support and fair outcomes.”

    — Jonathan Warren, head of innovation, Altus

  • “We are pleased to support MorganAsh to bring this intelligence and ongoing data monitoring to their innovative MARS platform. Both companies are well-aligned in our passion for delivering robust, high-quality solutions to help firms stay compliant and make better business decisions.”

    Alan Clay, LexisNexis Risk Solutions

  • “Integrating MARS is an exciting step in our journey to help us to build a complete picture of each client at outset and through their debt journey, as well as to report accurately on our findings. We’re thrilled to partner with MorganAsh for this project.”

    Emma Gibbons, PayPlan

  • “You were very, very kind. You have just been so nice compared to other people I have talked to. From one person to another, I really do thank you.”

    Vulnerable person helped by MorganAsh

  • “I’m very impressed and surprised. I wasn’t expecting the support aspect. Very helpful, thank you. I’m impressed by the idea of the meditation and will look into that, definitely. I’m impressed by your efforts.”

    Vulnerable person helped by MorganAsh

  • “The extra psychological and emotional support was invaluable. It meant I could offload less to those around me, and it made me emotionally stronger and more able to cope. Although it’s good to be getting back to life, I’m really going to miss those calls when they end.”

    Vulnerable person helped by MorganAsh

  • “The MorganAsh team was wonderfully friendly, calm and had a professional manner on the phone and also by email. They showed real empathy of the situation and were delicate in how they worded things. The team always carried through on their promises to email me or contact me to confirm arrangements.”

    MorganAsh Care Navigator customer

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