Financial Resilience


Suncorp aims to provide customers with access to suitable and affordable financial services to help build their financial resilience and wellbeing.

Performance Highlights


tick

Completed a Vulnerable Customer Review of Suncorp processes & support for customers who are vulnerable or in hardship

tick

Reviewed our Bank Hardship processes to improve customer experience

3,812

customers assisted during times of financial hardship

tick

Implemented our Financial Inclusion Action Plan

tick

Launched financial inclusion training for Suncorp's people & trialled intensive training for our specialist teams

people

Piloted an employment program for refugees & new migrants

There are times when our customers face financial stress and, in some cases, experience financial hardship. Suncorp aims to provide customers with access to suitable and affordable financial services to help build their financial resilience and wellbeing. In 2018 Suncorp refreshed its Financial Inclusion Action Plan to build on our efforts to help Australians at risk of financial exclusion. Over the past year we have continued to develop and expand access to insurance and banking products and services designed to assist low-income earners. We have also invested in our relationships with financial counselling services and consumer advocates. 

During 2017–18 we developed our financial resilience and vulnerable customer training strategy in three tranches:

  • Financial Inclusion Awareness for employees to build understanding of financial inclusion, resilience and wellbeing
  • Vulnerable Customer Training for front-line teams, which aims to build capability to identify and help vulnerable customers and refer them to external partners for specialist support when required
  • Specialist Capability Building and coaching for teams working with vulnerable customers every day, equipping them with skills to help customers in highly stressful situations, and strategies for their own personal resilience.

We have committed to developing a Responsible Banking and Insurance Policy that will outline our approach to providing accessible and affordable products and services, as well as meeting the needs of vulnerable customers. This will include clear guidelines for responding to customers facing difficult situations such as domestic violence, mental health issues and financial hardship.

Vulnerable Customer Review


In 2017 we worked with Uniting Kildonan to conduct a review of our policies and processes to support customers who are vulnerable or facing financial hardship. Suncorp gained a stronger understanding of the needs of these customers and is committed to implementing the recommendations to improve our processes. We have developed a toolkit for our people, expanded referrals to support services, and invested in measures to help us identify customers who may be struggling and support them before they reach financial crisis. To better support our Bank customers who are experiencing hardship, we have simplified documentation requirements, improved communications, and upskilled our people to better manage difficult situations.