WeCovr Statement on Treating Customers Fairly

In a competitive market place, treating customers fairly is an important element in determining the success of a firm in acquiring and maintaining the customer share. It is just as important as service levels, pricing and customer satisfaction.

For example, fair treatment entails that customers receive clear information during the claims process, that the policy performs as they were led to expect and that there are no unreasonable barriers to submitting a claim. It means that the policy holders who suffer a loss gets an appropriate indemnity. At the same time, payments must be justified. When a claim occurs, this is often the first contact a customer will have with the company since inception of the policy. Perceptions of a company gained at this point are difficult to eradicate. Even if a claim is paid in full, customers can be dissatisfied if the experience is less than what they expected. A quality claims service should therefore provide at least the quality that the customer expects.

WeCovr works using the principles of TCF and always seeks to achieve the TCF outcomes desired by the FCA.

We always strive to ensure that the client understands any variations in cover or pricing and we will endeavour to present options where they exist in what can be a very limited marketplace.

We use an IPID tailored to the level of sophistication of our counterparties.

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