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Exploring the regulatory expectations on the value of insurance and long-term savings products

Recorded: 10/06/2021

Duration: 1 hour, 51 minutes

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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 in value for money in the general insurance and long-term savings sector, this event focuses on value for consumers and explores 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 explores all the different elements that make a product or service valuable for customers.

A keynote speech by Matt Brewis from the FCA discusses the regulatory expectations on the value of insurance products. This follows a panel session entitled ‘How do firms define value for money?’ which focuses on value for consumers and explores different views on the regulatory expectations around the value that insurers provide. Topics of discussion also includes the different elements that form a definition, or approach to the evaluation, of value for money. 

The closing keynote speech by José Morago, Advisor to Huntswood on Risk and Regulation, addresses how firms are providing value throughout the customer journey, and the key outcomes of insurers providing fair value. This event also assesses 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.

Gain 1.5 CPD hours by watching this CII accredited webinar. 

Conduct 1 2021 Matt Brewis screenshot.png

Speakers include:

What will delegates learn?

By watching this webinar, delegates will be able to: 

  • Describe how we can define value for money in the general insurance and long-term savings sector and explain some key elements that make a product or service 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 journeys.
  • Identify how the FCA assesses the fair value of products.
  • Gain insight into the regulatory expectations surrounding value for money.

Price:

£25.00 + VAT per person

Register for this Event