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Delivering Fair Value in Insurance and Long-Term Savings - webinar

When:

Registration: Five minutes prior to workshop start time - online only

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Price 

This online workshop is free to attend for ABI Members only. Please make sure you logged into the website to book your place.

Bookings for the workshop will close at 17:00 on 21 January 2025. 

Details

Considering the FCA’s recent activity around the issue of fair value in relation to the Consumer Duty and the thematic review of its Product Governance (PROD 4) rules, this workshop will focus on:

  • Joining up product governance and oversight processes, breaking organisational silos and embedding a consumer-centric, value-focused culture across organisations
  • Aligning target market statements with the distribution chain and the customer journey
  • Setting evidence-based product standards and tolerance limits
  • Working across distribution chains, including identifying and sharing relevant MI
  • Making sure that the needs of customers with vulnerabilities are identified and addressed

The FCA has recently raised concerns with the level of embeddedness of firms’ product oversight and governance frameworks, target market statements being at too high a level and various issues with the quality of fair value assessments, management information and metrics used to identify value. This workshop will help members to address these challenges.

Delegates will benefit from EY’s expertise to gain valuable insights and learn how to manage and embed Consumer Duty and Product Governance requirements effectively to demonstrate fair value.

charlotte_wightwick_500x500.pngCharlotte Wightwick, Assistant Director, Head of Conduct Regulation, ABI

Stephanie Lord.jpgStephanie Lord, Director - Insurance risk and regulation, EY

Alex Roy.jpgAlex Roy, Director - Regulatory Insights, EY

Michael Vaughan.jpgMichael Vaughan, Senior Manager, EY

Why attend

Understand an overview of how the FCAs most recent thematic review impacts firms, considering areas of the guidance in detail, and sharing the high-level challenges firms have faced in enhancing Product Governance arrangements.

What will you learn?

By the end of the workshop, delegates will be able to...

  • Understand current regulatory guidance, and how this is being implemented across the insurance market
  • Outline how to enhance Target Market statements and utilise them to identify customer cohorts
  • Outline the current challenges firms are facing across insurance in identifying and treating customers with vulnerabilities, and the steps being taken to meet regulatory expectations in this area
  • Articulate current regulatory expectations for completing Product Governance Oversight, and Fair Value assessments