The FCA is currently consulting with firms regarding how artificial intelligence (AI) may affect financial services and how it can be adopted safely and responsibly. How can AI-powered services benefit firms and what risks and challenges does AI pose in its implementation?
How Can Insurance Brokers Support Customers Experiencing Financial Difficulty?
The FCA’s Sheldon Mills recently wrote that ‘firms must take immediate action to make sure they support customers now and in the challenging months ahead’, but how can insurance brokers ensure their clients are supported through these difficult financial times?
Can Neurodiversity Give Your Insurance Firm a Competitive Advantage?
Sir Richard Branson published an open letter in 2021, stating “The world needs a neurodiverse workforce to help try and solve some of the big problems of our time.” Companies with diverse teams are 70% more likely to enter new markets. Are insurance firms failing to utilise neurodiverse employees' strengths and creativity?
What Does the Price and Value Outcome Mean for Insurance Brokers?
The price and value outcome of the FCA’s new Consumer Duty focusses on ensuring that products and services offer fair value to consumers. How does it interact with the other elements of the Duty and what does this mean for insurance brokers?
How Can Insurance Firms Effectively Review Products and Services?
The FCA’s Consumer Duty requires the regular review of products and services and their distribution methods but how can insurance firms gather information to ensure that the needs, characteristics, and objectives of the target market continue to be met?
3 Things Insurance Firms Should Consider Before the Next Recession
Companies such as Meta, Twitter, Amazon and more have named the possibility of a recession as one of the major contributing factors to mass layoffs. What can your insurance firm do to help navigate the possible upcoming recession?
How Can Insurance Brokers Manage Stress and Mental Health?
Despite progress with the awareness of mental health problems, a recent survey from Ecclesiastical has shown that stress and anxiety continue to increase in financial services. What can insurance brokers do to help manage their mental health?
The Advantages of Inclusive Design
Last week, we looked at how the inclusive design method can be used in the development of products and services. But why might firms choose to overlook the potential pitfalls and focus on the advantages?
SMEs Are Facing An Increasing Risk Of Underinsurance
Small to medium-sized enterprises (SMEs) are facing significant levels of uninsured risk, according to recent research. This article looks at some of the key points highlighted from the study and the role brokers will have to play to mitigate these risks in the near future.