This event will be delivered as a live webinar. Register before bookings close at 17:00 on Wednesday 9 June 2021.
Value across insurance and long-term savings products has been a regulatory focus for some time, but the events of Covid-19 have strengthened the regulator’s scrutiny of the value that is being provided by policy contracts. This can be demonstrated by the FCA’s guidance on value of insurance products, by their work on GI Pricing and GI value measures, and on the value in the distribution chain. The regulators are also in the process of finalising their rules on value for money in the pensions space.
Due to the regulator’s ever-growing interest on value for money in the general insurance and long-term savings sector, this event will focus on value for consumers and explore the regulatory expectations around the value that insurers and long-term savings providers offer.
The ABI takes the view that the definition of value for money is a broad one and it involves a lot more than just costs. Value for money also incorporates good customer service, accessibility, and innovation, amongst others. Therefore, this event aims to explore all the different elements that make a product or service valuable for customers.
A keynote speech will be given by the FCA to discuss the regulatory expectations on the value of insurance products. This will be followed by a panel session entitled ‘How do firms define value for money?’. This session will focus on value for consumers and explore different views on the regulatory expectations around the value that insurers provide. Topics of discussion for this session will also include the different elements that form a definition, or approach to the evaluation, of value for money. A closing keynote speech will be given by Huntswood to address how firms are providing value throughout the customer journey, and the key outcomes of insurers providing fair value. This event may also assess other areas of value such as the FCA’s work on product value guidance over Covid-19, value in the distribution chain, and the measures the FCA has in place to assess the fair value of GI products and value for money in pensions, both in the short- and long-term.
Confirmed speakers include:
- Matt Brewis, Director, Insurance and Conduct Specialists, Financial Conduct Authority
- Fiona Harris, Chief Finance Officer, Bupa Insurance Limited
- Sean Lloyd, Head of Product Technical, Phoenix Group
- James Daley, Managing Director, Fairer Finance
- José Morago, Advisor to Huntswood on Risk & Regulation
- Charlotte Clark CBE, Director of Regulation, ABI
What will delegates learn?
By the end of this event, delegates will be able to:
- Describe how can we define value for money in the general insurance and long-term savings sector and explain some key elements that make a product or service be of value for customers.
- Understand how value can be used to differentiate firms in the marketplace rather than solely relying on price and how firms can apply value to their products and customer journey.
- Identify how the FCA assesses the fair value of products.
- Gain insight into what the regulatory expectations surrounding value for money are.
Price:
Members: £49.00 + VAT
Associate Members: £49.00 + VAT
MGA Associate Members: £49.00 + VAT
Long-Term Savings Members: £49.00 + VAT
Partners: £49.00 + VAT
Non-Members: £129.00 + VAT