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The Consumer Duty from principle to practice: product value and customer communications. Part 1

Recorded: 08/11/2022

Duration: 1 hour, 30 minutes

To access the webinar please register your details using the button below

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£12.50+VAT per person

This is the on demand registration page for part one of our two part Consumer Duty event. You will find part two here.

With the final rules and guidance for the Consumer Duty now in place, firms must now begin to implement the new standards for assessing, evidencing and delivering good customer outcomes. Firms will have to undertake a significant amount of preparatory work to ensure and demonstrate that products and services offer fair value and the customer communications they issue support customer understanding and enables them to make good decisions.  

good-communication-with-a-client-picture-id508291726.jpgFirms have until July 2023 to implement the rules for existing products and services while closed book business will have an additional year to comply. While the deadline has been slightly extended, firms will need to act quickly to complete their gap analysis and deliver their plans.  

Hear from industry practitioners and regulators to discuss how to best deliver the product value and customer understanding outcomes of the consumer duty with case studies of good practice being shared.

Keynote speakers:

Panel speakers:

Why watch?

  • Learn about the regulator’s expectations for firms stepping up now, ahead of the Duty being in force, to support customers through the rising cost of living and ensure good consumer outcomes.
  • Discover more about how to develop an approach to testing consumer understanding that provides assurance that consumers can identify, and understand, the information needed to make effective decisions.
  • Engage with discussions, benefitting from a range of firms’ perspectives, on the importance of firms considering what they know about their customer base, and the target market for their products and services, when delivering on the customer understanding outcome of the Duty, including what best practice could look like.
  • Gain 2 CPD hours with this CII accredited webinar. 

What will you learn?

By the end of this webinar, delegates will be able to...

  • Outline FCA requirements for firms on the consumer understanding and product value outcomes, for complying with the Consumer Duty.
  • Recognise FCA expectations around the relationship between the price paid for a product or service, and the overall benefit a consumer receives from it.
  • Identify what additional steps firms can take to support consumer understanding, considering their communications on the whole, to ensure they meet expectations under this outcome.
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