Consumer Duty and customer vulnerability – challenges and opportunities for the pure protection market

Posted by Andrew Gething | Feb 14, 2025 | Adviser Insights, Consumer Duty | 1 |

About The Author

Andrew Gething

Andrew is the founder and managing director of MorganAsh. He is a highly successful entrepreneur who has taken an IT start-up through growth and profitability to successful acquisition and floated a private computer games company on the London Stock Exchange. Andrew is a structural engineer graduate, previously a Chartered Structural Engineer, and holds an MBA from Sheffield Business School. He is a recognised consumer vulnerability specialist and champion, is the driving force behind the award-winning consumer vulnerability management tool, MARS – adopted in the financial services, credit and utilities sectors.

1 Comment

Mark Belch on 14th February 2025 at 3:54 pm

From an adviser’s perspective, I think this misses the real issue. Protection advisers are paid to arrange suitable policies at a point in time, not to provide ongoing service. If Consumer Duty expects us to track policy ongoing suitability, assess future vulnerabilities, and ensure trustees stay informed, then there needs to be a viable business model to support it.

Technology can identify changes, but who will pay for the technology, who is responsible for acting on the information and who pays the price if it isn’t? Without a viable servicing model, advisers cannot provide a service that no one is paying for.

We need to either adopt a more realistic interpretation of Consumer Duty or change the business model first.
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