Welcome to our Annual Conference 2024

Breakout A - Regulation - AI principles into practice

Bringing together experts from across different disciplines within the insurance and long-term savings industry, this session will explore how firms can plan for, and manage, AI risks and opportunities. 

It will discuss how to put the Government’s high-level principles for AI into practice, including who needs to be involved and some of the key steps that need to be taken, to ensure responsible use of AI.

Breakout B - Saving lives with data 

The session will explore how the healthcare system, including insurers, can better utilise health data to improve the population’s health whilst building trust amongst patients, healthcare professionals, policymakers and regulators.  

Health data is information about an individual’s or population’s physical and mental health, as well as the biological, environmental, and socioeconomic factors that influence it. This data can be collected from a variety of sources, including clinical records, clinical trials, disease registries, electronic health records (EHRs), research studies, medical devices and data from phone apps and wearables.

Health data can be used to improve our understanding of disease, develop new treatments, and deliver more personalised care and prevention. It can also be used to track the health of populations and identify areas where interventions are needed. The use of health data is growing rapidly, as new technologies make it easier to collect and store data. However, there are also challenges associated with the use of health data, such as ensuring privacy and security, and making sure that the data is used ethically. To reap the benefits of the ever-growing amount of health data, it will be vital to build and maintain trust.

Breakout C - Empowering customers to make good choices 

As the Treasury and FCA’s advice and guidance boundary review and the DWP’s consultation on 'Helping savers understand their pension choices' progresses, this panel will debate what changes are needed so that savers are able to make the best retirement decisions for them.

Industry has long called for change to help customers make better decisions. In July 2023, the FCA found that Investment pathways have been working as intended, but recognised that more is needed to support customer decision making.

This panel will explore:

• What does a good outcome of the advice and guidance boundary Review look like?
• Which customer circumstances could most be improved by the Review?
• What do customers want providers to help them with, and what is their appetite to pay for these services?

Speakers include:

• George Ritchie, Senior Policy Advisor, ABI - Chair
• Michele Golunska, Managing Director, Wealth and Advice, Aviva
• Ross Liston, CEO Weath and Advice, M&G
• Max Mawby, Founder, Behavioural Insight and Advisory, Thinks Insight & Strategy

Breakout D - Insuretech/data 

Details coming soon.

Breakout E - General Insurance - The commercial and speciality markets in focus

During and following the pandemic, there was a hardening market for many lines of insurance with underwriting actions from insurers including reduction of limits and push for rate after years of soft markets. How has this impacted the commercial / specialty market? More recently, there has been a step change in the reinsurance market, with increasing prices and retentions. What does the future look like for policy coverage, targeting new business opportunities and market stability? 

Speakers include:

• Jason Richards, CEO, Swiss Re
• Sarah Murrow, CEO, Allianz Trade UK and Ireland

Breakout F - Health, Tax and Politics

Taxation and policy measures are an important tool to change behaviour to address pressing social issues. In response to growing health-related economic inactivity, the government is taking seriously the need to use the tax system hand in hand with health and welfare policy to promote the health of the workforce and increase productivity.

Tax revenue in the UK is currently 37% of national income. This is the highest level since the 1940s. There is a risk that in the face of an ageing population and increasing health and social care costs taxes may need to continue rising. How can we use policy and taxation most effectively to support better workplace health now, to grow the economy and reduce the burden on our health and welfare systems?

This panel will focus on how the policy and taxation system can be used separately or in tandem to drive behavioural change, how it is limited by political, demographic and fiscal constraints, how this relates to health policy, wider party politics and the insurance market.

Speakers include:

• Alex Perry, CEO, Bupa Insurance
• Hannah Behrendt, Director of Health, Behavioural Insights Team
• Mark Till, CEO, Unum

Breakout G - Regulation - Consumer Duty six months on

After introducing the Consumer Duty at the end of July 2023 the FCA is now looking to see real change in how insurers deliver good customer outcomes. The regulator’s top market-wide priority is embedding the Consumer Duty and that is reflected in its published priorities for both life insurers and for general insurance and protection.

What are the challenges that insurers face in delivering cover that matches price with value across often extended distribution chains? How do firms approach giving customers effective support to meet their financial objectives when the cost of living drives customers to focus mainly on price when choosing a product or service? What are the steps insurers have already taken and what more do they need to do to achieve good customer outcomes? Will the review of the advice and guidance boundary deliver the hoped-for step change in how insurers can talk to their customers? Looking ahead to the extension of the Consumer Duty to closed books of business, what lessons can we take from the first six months to apply to the large back books of life insurance and pension providers?

Our expert Panel will consider these and other issues as we assess the pitfalls and opportunities on the journey to embedding the Consumer Duty into the way the insurance and LTS industry does business.

Speakers include:

• Charlotte Clark, Director of Regulation, ABI
• Paddy Greene, Head of Money Policy, Which? 

Breakout H - Financial Inclusion

17.5million – the number of people Fair 4 All Finance estimate to be in financially vulnerable circumstances in the UK. A staggering number. And with reports from consumer groups highlighting affordability challenges and the latest FCA Financial Lives Survey showing 6.2million people in the UK cancelling or not renewing cover last year, the challenge of how to improve financial inclusion has never been more topical or more pressing.

What can be done? Or more pertinently, who’s responsibility is it to find ways to improve inclusion for consumers?

Insurance and long-term savings firms are increasingly vocal about their role in looking after individuals, families and businesses - to protect against income shocks to help build secure financial futures. But with thin margins in parts of the market and no obligation to provide products that are not commercially viable, how can firms, government and third parties come together to improve inclusion for consumers in a financially sustainable way?

Speakers include:

• Selina Flavius, CEO and Founder, Black Girl Finance
• Adrian Smith, Chief Executive, Reclaim Fund
• Sacha Romanovitch OBE, CEO, Fair4All Finance

Breakout I - General Insurance - Challenge or opportunity? Insuring difficult risks

In today's insurance landscape, underwriting challenges such as flood, cladding, pre-existing conditions, and vulnerable customers are becoming increasingly prevalent. This session will provide a platform for industry experts to share their knowledge, experiences, and innovative approaches to effectively manage and mitigate challenging risks.

Speakers include:

• Ken Norgrove, CEO, RSA 
• Harriet Boughton, General Counsel, Flood Re
• Geoff Carter, CEO, Sabre Insurance Group

Breakout J - Insuretech 

Details coming soon.

Breakout K - Reducing climate risk - Our sector's role in adapting to a warmer world

Details coming soon.

Breakout L - How do customers navigate investment choices

How pension funds and retail products invest has never been such a hot topic, but how do consumers make decisions about where their money is invested, and what influences these decisions?

Engagement with pensions, particularly workplace pensions, is typically poor. For those that do want to engage and make decisions about their investments, what support and tools exist to help them navigate these choices? Meanwhile, is the Government right to encourage customers to invest in Stocks & Shares rather than Cash ISAs? Is the broad public interest in sustainability an opportunity to engage people in making investment choices?  This panel will explore how providers currently help customers navigate investment choices.

Speakers include:

• Rob Yuille, Assistant Director, Head of Long Term Savings Policy, ABI
• Catherine Howarth, Chief Executive, ShareAction
• Stephen McGee, CEO, Scottish Friendly