The Chartered Insurance Institute has launched a cross-sector vulnerability data sharing taskforce aiming to reduce the number of repeat disclosures required of vulnerable customers across the distribution chain.
The taskforce brings together representatives from insurance, personal finance, technology, academia, and professional bodies to develop practical solutions. Three working groups have been established, focusing on creating a vulnerability data dictionary, market adoption and engagement, and data standards and governance. Their work will centre on practical use cases and measurable customer outcomes, the CII outlined. According to the CII, the initiative responds to concerns that vulnerability-related information is not consistently shared across the financial services distribution ...
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