What key examples of good practice has the FCA highlighted from their review of firm’s Consumer Duty implementation plans?
FCA Reviews Firms' Consumer Duty Implementation Plans
Following a review of Consumer Duty implementation plans the FCA has highlighted 3 key areas firms may need to reconsider. What does your insurance firm need to know to remain compliant?
Diversity and Inclusion in Customer Services
Failure to recognise the diverse needs of certain groups can lead to customers receiving poor outcomes. How can customer services staff communicate more effectively to help deliver better outcomes for all?
The Importance of Inclusive Design for Insurance Firms
Inclusive design aims to remove barriers for as many people as possible, not just those with protected characteristics or characteristics of vulnerability. Why is it important for insurance firms to improve accessibility by implementing inclusive design practices throughout their products and services?
Climate Change Becoming an Increasing Risk for Businesses
With the increase in the frequency and severity of storms and flooding in recent years, it is expected to have a long-lasting impact on the affordability of risk coverage. This article explores why firms will need to be more aware of how climate change is likely to affect their business.
Monitoring Outcomes and Data Archiving
A key aspect of the FCA's Consumer Duty is the requirement for firms to monitor and assess consumer outcomes. What information can firms use and how can data archiving help?
What Does it Mean to be Competent?
Training and competency is a requirement for insurance firms but do brokers really understand what it means to be competent?
FCA Introduces Multi-factor Authentication
In an effort to strengthen the security of the data it receives, the FCA have announced the introduction of multifactor authentication for many of its systems. What will firms need to do?
Trends and Predictions for the Insurance Industry in 2023
As we enter 2023, the insurance industry is facing several challenges and opportunities. In the face of changing customer needs, new technologies, and evolving regulatory environments, insurance firms must adapt to stay competitive. Here are some key trends and predictions for the insurance industry in 2023.