TREATING CUSTOMERS FAIRLY

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The goal of TCF is to promote ethical business practices and improve customer confidence in the financial services industry by ensuring that customers are treated fairly throughout the product or service lifecycle.

 

TCF protects consumer rights in financial services, encourages ethical sales practices and responsible business conduct, reduces mis-selling of financial products, and helps financial service providers build trust and long-term relationships with clients.

 

Financial service providers must structure their businesses to achieve these six fairness outcomes:

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1. Culture & Governance
   Mono fosters a client-centric culture by embedding TCF principles in its policies, training, and decision-making, ensuring that clients are confident that Mono prioritises fairness in its business culture.
    

2. Product & Service Suitability
   Mono tailors insurance solutions specifically for community schemes and their residents, ensuring that products meet the unique needs of bodies corporate and homeowners’ associations.
    

3. Clear & Honest Communication
   Mono's clients receive understandable, accurate, and timely information before, during, and after purchasing a financial product, enabling clients to make informed decisions about their coverage.
    

4. Appropriate Advice
   Mono conducts thorough needs analyses and offers professional guidance, ensuring that policies align with clients’ expectations and financial positions.
    

5. Product Performance & Expectations
   Mono facilitates a smooth claims process, advocating for clients where necessary and ensuring fair, timely claim resolutions. A structured complaints process is in place to address client concerns efficiently.
    

6. Claims, Complaints & Switching
   Mono's "Variable Replacement Value" service for community schemes facilitates real-time coverage adjustments to ensure continued suitability and value for policyholders. Mono encourages periodic policy reviews and proactively assists clients in submitting claims, making complaints, and switching products or providers.
    

By embedding TCF into its operations, Mono ensures fairness, transparency, and trust, ultimately protecting the interests of community scheme clients.

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