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23 January 2024

MorganAsh, a support services provider to the financial services and utilities sectors, has appointed Johnny Timpson OBE as its new chairman, subject to FCA approval.

The news comes as MorganAsh expands its operations across all regulated sectors – helping firms better manage consumer vulnerability, by using the MorganAsh Resilience System (MARS).

Johnny Timpson OBE is a highly regarded industry expert with more than 40 years of experience within the insurance and protection sectors. He has a passion for helping vulnerable consumers and holds numerous positions across the industry, including Financial Inclusion Commissioner and as a member of the FCA’s Financial Services Consumer Panel.

He is also a member of GAIN, the Group for Autism, Insurance, Investment and Neurodiversity, the Prime Minister’s Champion Group for Dementia Communities, BIBA Access To Insurance Committee and the Building Resilient Households Group. In addition, he is a founding member of the Financial Resilience Taskforce, a Vocational Rehabilitation Association Expert Friend, Insurance Institute of London Diversity & Inclusion Committee Member, Age Irrelevance Ambassador and Grief Chat Ambassador.

Johnny received his OBE as part of the 2022 New Years Honour’s list, for voluntary services to people with disabilities and the financial sector. He succeeds Jim Randal, who stepped down after chairing MorganAsh since its inception in 2004.

Managing consumer vulnerability is both a challenge and requirement for firms across all regulated sectors – in particular, with the FCA’s recent updates reinforcing the need for regulated financial services firms to assess and monitor consumer vulnerability.

Notably, the Department for Work and Pensions recently issued consultation on the need to share consumer vulnerability data across sectors – with MorganAsh already contributing to this logical progression from ring-fencing data.

Johnny Timpson OBE said: “I have known MorganAsh for over 20 years, and I am delighted to be joining them. Their proven track record of introducing innovation which combines technology and professional empathy is second to none. The MARS vulnerability system is a major leap forward in supporting regulated firms – to help them better understand and focus on the needs and preferences of consumers, rather than simply sell individual products; it additionally aids financial services firms in meeting Consumer Duty’s vulnerability regulations.”

Andrew Gething, managing director at MorganAsh, added: “Johnny is widely recognised as an industry leader on consumer vulnerability – and we are delighted he is joining us. We have ambitious growth plans across both the financial and utility sectors – to provide easy to use, secure systems and services which enable firms to understand and help those consumers with vulnerabilities.

“Our MARS system is already helping firms to identify previously unknown consumer vulnerabilities – and changing the way firms manage these customers, as well as meeting the FCA’s Consumer Duty requirements.”

You can watch the full interview between Andrew Gething and Johnny Timpson OBE here.

MorganAsh launched its award-winning MARS platform to help firms understand and monitor vulnerable customers and deliver good outcomes – as required by Consumer Duty. It is in use across financial services and the utilities sector, enabling businesses to adopt a consistent approach to identifying vulnerable characteristics and generate an objective Resilience Rating – much like a credit score.

To find out more or access a free trial, visit: morganash.com/mars or phone: 0330 159 8162.