Customer vulnerability data framework checklist
Every firm is on a unique journey with its customer vulnerability management strategy, which translates into different levels of operational maturity. This checklist should quickly pinpoint areas for enhancement and support the assessment of current capabilities against good practice. Use the following checklist to assess or build a vulnerability data framework.
This checklist was created by the Chartered Insurance Institute; reproduced with permission.
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Foundations
Data quality: is there a process to maintain the accuracy of core customer contact information over time?
Classification: is there a firm-wide, objective taxonomy for classifying customer vulnerability characteristics and severity?
Data model and systems
System capability: can the IT systems store, link and analyse key data components (for example, circumstances, severities, potential harms, support pathway and outcomes)?
Household view: can systems link individuals to form a family or household unit or view?
Combination of circumstances: do our systems show when multiple circumstances of vulnerability are compounding, to make customers’ situations worse?
Governance and policy
Data policy: is there a clear policy on storing underlying circumstances, severities, and support needs, as well as when support needs were implemented?
UK GDPR compliance: is the lawful basis for processing customer vulnerability data documented? Are security and governance measures robust and compliant with UK GDPR?
