Customers are significantly more likely to complete vulnerability assessments when they are embedded into existing interactions, research from MorganAsh reveals.
Analysis of assessments conducted through the MorganAsh Resilience System between 2023 and 2025 found that 99% of customers who started the process completed it.
Average take-up reached 65% during customer onboarding and 60% when assessments formed part of a review. In some cases, embedding assessments into these processes produced take-up rates of 100%.
By comparison, take-up fell to just 3% when firms issued standalone information requests outside their normal customer engagement.
VULNERABILITY ASSESSMENT
MorganAsh said the findings should encourage lenders and brokers to assess vulnerability proactively rather than relying on customers to self-identify.
The method used appeared to have little effect on the quality of information provided. Across MorganAsh clients, 53% of assessments were completed independently through a digital link, while 47% were conducted by an adviser or agent during a conversation.
The findings follow Chartered Insurance Institute guidance explaining how firms should collect and store customer vulnerability information in accordance with UK GDPR and the Consumer Duty.
“Proactive assessment is absolutely key to identifying vulnerable customers.”
Andrew Gething (main picture), managing director of MorganAsh, says: “Our data shows that objective, proactive assessment is absolutely key to identifying vulnerable customers, building the robust data required to improve service, deliver better outcomes – and report progress to the regulator.
“There have long been concerns about collecting this type of data – whether it is due to data protection concerns or fears that customers would be unwilling to disclose. On both counts, the combination of our latest data and fresh guidance from the CII proves that any fears or concerns are unfounded.
“In reality, customers are willing to disclose this information, providing that it is part of an engagement process and that they are fully aware of how it will be used to support better outcomes.
“By prioritising proactive engagement, it becomes less about assessment take-up rates and more about building trust in the process.
“There is tremendous value in having these important conversations, but it’s about having it at the right time and with the right technology, processes and infrastructure behind the firm to make sure that the data can be collected and used to support individuals as well as reported on properly.”
