Experian and LV: Should Insurance be More Accessible?

In a significant move for the UK protection and retirement sector, LV= has become the latest financial services organisation to integrate with Experian Support Hub.

The partnership aims to simplify the way members share their support and access needs, ensuring that those in vulnerable circumstances receive tailored assistance without the burden of repeated disclosures.

The Support Hub platform functions as a free to use service, allowing individuals to communicate their preferred interaction methods – such as specific communication channels, extended appointment times or assistance during complex transactions – through a standardised digital interface.

Removing barriers to access

For the insurance industry, where customers often interact with providers during high stress life events, the ability to signal support needs early is vital. 

Experian research indicates that 73% of disabled people have previously delayed contacting essential service providers because the process felt too daunting. This hesitation frequently results in poor financial outcomes and unmet requirements.

By adopting a “tell it once” approach, LV= is addressing a critical friction point in the customer journey. The platform allows users to share information regarding long term health conditions, bereavement, relationship changes or financial difficulties, ensuring the insurer can adapt its service model accordingly.

Paul Lamont, Support Hub Director at Experian UK&I, says: “We’re thrilled to partner with LV=, particularly given its mutual ethos and the important role it plays in helping people live financially confident lives. 

“Support needs don’t stop at banking, they’re often most critical when people are making complex, long-term financial decisions. By joining Support Hub, LV= is helping to ensure people can disclose once and receive personalised support across more of their financial journey.”

The extension of this service into the life and pensions space marks an important shift. While the service launched in September 2023 with a heavy focus on the banking sector – including HSBC UK, Nationwide and Monzo – its expansion into insurance reflects the multifaceted nature of a consumer's financial life.

Enhancing the mutual experience

For LV=, the decision to join the hub aligns with its commitment to its member base. As a mutual, the provider focuses on long term value and member support rather than shareholder returns, making the accessibility of its services a top priority.

Chloe Stuttard, Chief Customer Officer at LV=, says: “As a mutual and one of the UK’s leading life and pensions providers, our members are at the heart of every decision we make. 

“We’re always looking for ways to enhance their experience with us, and partnering with Experian allows us to do exactly that. Support Hub gives our members and customers a simple way to tell us what support or adjustments they need, helping us communicate with them more easily. 

“The new service will help us go even further in offering an experience that truly works for them, ensuring we can provide the right help at the right time.”

Data privacy and consumer control

The Support Hub operates independently of Experian's credit bureau. Crucially, the service does not ask for or share specific medical conditions. Instead, it focuses on the practical actions a firm must take to assist the customer.

All data shared is consumer consented, giving users the power to add, change or revoke their support needs at any time. Importantly for those seeking insurance or financial products, the information provided to the hub has no impact on credit scores and cannot be used by organisations to inform lending decisions or for marketing purposes.

Initially covering domains related to sight, hearing, mental health and dementia, the service is expected to expand its scope in the near future. LV= now joins a growing roster of major UK firms, including Lloyds Banking Group and OVO, in adopting the framework.