Consumer Duty
View from the top: Why the Consumer Duty will strengthen third-party partnerships
Sharna Thomson, head of customer claims at Zurich UK, considers how the FCA's Consumer Duty requires insurers and brokers to make sure their third-party partners adhere to the new rules too.
Better staff training needed for insurers to be more dementia-friendly
The Alzheimer’s Society has claimed that while the insurance industry is showing willingness to learn, better staff training is needed if it wants to become more dementia-friendly and help vulnerable customers.
AI could become the ‘wild west of tech’ if it is not used appropriately
Artificial intelligence could take on unexpected behaviours, leaving consumers being treated unfairly with vulnerable customers hit the hardest, industry leaders claim.
Howden unifies business; Pikl partners with Confused; Gallagher sponsors the horses
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Applied Systems expands commercial lines; Value Space invests; and Avid opts for Allianz for capacity
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
View from the top: Why getting personal is key to Consumer Duty compliance
Michelle Bree, chief operating officer at Gallagher, says the Consumer Duty presents a unique opportunity for the industry to get closer to customers and build trust.
Biba updates on manifesto ahead of conference
British Insurance Brokers’ Association chief executive Steve White said the trade body's members “know there's an ESG train coming down the line” and that “everybody will need to get on board at some time”.
Movers and shakers who made Insurance Post’s Power List revealed
This year’s Insurance Post Power List provides a blueprint of what you need to do to achieve and succeed in today’s world.
Peter Blanc, Aston Lark
As leader of Aston Lark and executive chairman of Howden, Peter Blanc isn’t afraid of sticking his head above the parapet and pointing out the problems the industry is facing and suggesting solutions.
Matt Brewis, Financial Conduct Authority
The Consumer Duty is a “significant shift” in the Financial Conduct Authority’s approach to supervision and leading the charge of ensuring the industry understands the requirements is Matt Brewis, director of insurance.
Podcast: What regulators have in store for insurers and brokers
Insurers hoping to see European Union rules ripped up this year are likely to be disappointed, Michael Sicsic, managing director of Sicsic Advisory, has warned in the latest Insurance Post Podcast.
Howden’s Peter Blanc on whether AI is the answer to Consumer Duty compliance
Peter Blanc, executive chairman of Howden UK and Ireland, examines the challenges inherent in the forthcoming Consumer Duty and asks whether artificial intelligence could help the industry meet its demands.
Why the Consumer Duty could reduce general insurance options
Editor’s View: Insurance Post Editor Emma Ann Hughes is concerned the Consumer Duty combined with claims inflation could reduce choice for personal lines policyholders.
Digital Bar Quarterly: How can insurers optimise a multibrand strategy with greater UX differentiation?
Insurance companies replicating their quote and buy journeys across multiple brands are missing significant opportunities. Jamie Bayliss, consultant at Altus Consulting, shares his observations and outlines how they could overcome this efficiently…
Could insurance brokers soon face caps on commission?
Analysis: As the government demands pulling the plug on unfair insurance commission, Frances Stebbing examines whether the regulator could change the rules for how brokers get paid.
Five key takeaways from the FCA's business plan
The Financial Conduct Authority's Business Plan for 2023 to 2024 detailed plans for the regulator to check the finances of brokers as well as MGAs in the year ahead.
Gallagher buys Buck; Pen’s latest deal; Spring’s commercial PI binder
Friday Round-Up: Ahead of Good Friday and the Easter Bank Holiday, Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
WTW partners with Sapiens; Zurich expands regional network; Pen UW creates head of IP
Friday Round Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Why we need fire and brimstone over Consumer Duty
Editor's View: Emma Ann Hughes asks whether Old Testament-style regulation is required to push general insurers to meet the Consumer Duty requirements.
View from the top: Money and Mental Health Institute's Conor D'Arcy on how to help customers with mental health problems
Conor D'Arcy, head of research and policy at the charity founded by Martin Lewis, explains what general insurers must do to make the industry accessible for customers with mental health problems.
Martin Lewis’s charity outlines steps for Consumer Duty compliance
A charity established by campaigning journalist Martin Lewis has urged insurers to provide mental health training for underwriters and frontline staff if they wish to adhere to the FCA’s Consumer Duty requirements.
Who is responsible for ending the insurance poverty premium?
Analysis: Social Market Foundation research shows insurance is increasingly unaffordable for those on low incomes; news editor Scott McGee examines who is responsible for preventing a “poverty premium” being charged.
FCA still asking insurers if they have heard of Consumer Duty
With only four months to go until the Financial Conduct Authority’s Consumer Duty comes into force, the regulator has reached out to insurers to ask if they have even heard of the new set of rules.
FCA contacts insurers over Consumer Duty concerns
The Financial Conduct Authority is already reaching out to insurance firm bosses to raise concerns the businesses won’t comply with the Consumer Duty when it comes into force in July.