Nearly half of consumers are 'potentially vulnerable': MorganAsh

Protection had smallest proportion of customers ‘in difficulty’

Jaskeet Briah
clock • 1 min read

Nearly half (45%) of customers across key sectors in the financial services industry are ‘potentially vulnerable’, including protection, mortgages, credit, high-net-worth and equity release, according to MorganAsh.

This means these customers were still classified as vulnerable but the severity was 'not as great' and an intervention or change of process is less likely to be needed, MorganAsh said. According to data from the MorganAsh Resilience System (MARS) - a vulnerability tool for brokers - the mean results across all sectors found 19% of consumers were classified as ‘in difficulty', where it is most likely that some action or adaptation is required, while over one third (36%) were found to be ‘resilient'. The protection industry had the smallest proportion of customers ‘in difficulty' at 5%,...

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