Two-thirds of insurance professionals are confident discussing mental health and money matters with customers, according to a new survey by Chartered Insurance Institute (CII).
A press release by CII said a social media poll of 597 CII members, conducted in January 2022, revealed that while most insurance professionals are self-assured when discussing mental health and finances, a third still lack confidence talking about these subjects.
On 3 February the CII shared a 10-page ‘Mental Health for Insurance Brokers’ good practice guide to empower and equip them to have these discussions.
CII chair professionalism workstream Shayne Halfpenny-Ray said, “It is important we consider the role mental ill-health plays both in our own lives and those of our customers. The interaction they have with the profession, right through the value chain of decision making can both effect customers in terms of the trust they have in our services, but also on their individual mental health.”
Good practice guidance produced by the CII recommends professionals follow the TEXAS model, developed by the Money Advice Trust and the Royal College of Psychiatrists.
T – Thank the customer for telling you the information, setting up a background of empathy and respect for the rest of the conversation.
E – Explain how the information will be used and reassure them that you are putting their interests first.
X – Ask for explicit consent from the customer to record the information they give you.
A – Ask some vital questions, such as if their illness affects the way they want to communicate with you.
S – Signpost to another provider or resource who may be more appropriate if you are unable to
help as this demonstrates you have engaged with their needs. M