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Vulnerability

Trade Credit Collections recognises that anyone can become vulnerable at any time, and that vulnerability can be permanent, transient or progressive. The following definition has been adopted to help QBE define customers experiencing vulnerability:

A vulnerable customer is someone who, due to their personal circumstances or due to the actions of others, is susceptible to harm, loss or disadvantage. Vulnerability can be temporary or ongoing. It can be gradual or sudden. Anyone can become vulnerable at any point in time."

Upon recognising a customer is experiencing vulnerability, Trade Credit Collections will respond by:

  • Listening carefully and letting the conversation take its course without judgement or preconceived outcome
  • Providing choices in the manner in which the customer would like to communicate with us in such a way that is inclusive and provides flexibility, clarity and ease of understanding
  • Ensuring the message from the customer and their vulnerable circumstances are clearly understood before undertaking any actions
  • Tailoring our service and assistance approach in a manner that aligns with the customer’s specific circumstances and needs whilst ensuring compliance
  • Taking immediate action, where possible, to facilitate the safety and well-being of the customer if under immediate threat
  • Affording additional opportunities for the customer to share information and ask questions about our products, services, how we can assist and any information we have provided
  • Continuously seeking confirmation that the customer has understood what has been discussed and the information that has been provided
  • Asking the customer if there is anybody with them who is able to assist them, and offer them the opportunity to have a family member or representative present during the conversation
  • Committing to deal openly and transparently with the customer and their representative and be as upfront with any information and assistance we are legally able to provide
  • Offering the customer the opportunity to respond, make a decision, or complete the transaction after a period of further consideration – whether in the same discussion or at a later time
  • Seeking expert opinion and advice where necessary.

Trade Credit Collections will avoid rigidly scripted communications and responses when dealing with vulnerable customers so as to afford flexibility in communications and a tailored approach to be adopted that better aligns with the specific circumstances and needs of the customer.