What key examples of good practice has the FCA highlighted from their review of firm’s Consumer Duty implementation plans?
Consumer Duty

How Can Insurance Firms Support Disabled Customers in Pursuing their Financial Objectives?
Last week, we looked at diversity and inclusion in customer services under the Consumer Duty. In this article, we will be looking specifically at disability, one of the nine protected characteristics, and how it can affect a customer’s experience.

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?

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?

How Can Firms Assess the Value of Products and Services?
We recently looked at how the price and value outcome of the FCA’s new Consumer Duty requires firms to ensure their clients receive fair value and what fair value really means. But how can firms assess the value of their products and services?

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?

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?
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