Throughout October we will be looking at a range of factors and changes which are occurring within the insurance and banking industry. Focusing on the risk and regulation area of financial services, we will be taking a look at the changes on the horizon how these will affect the overall approach to insurance.
I’m Jennifer and I lead the Insurance and Banking practice at Grovelands.
Within the insurance and banking sector, consumers and firms face an ever changing environment. Coming under scrutiny of the FCA, we are seeing the market start to shift in its approach towards the consumer but also in how it acts within the industry.
We have seen many changes in regards to regulation surrounding insurance products and their handling. These changes are affecting firms in terms of their responsibility to the consumer, from how products are to be sold through to the stages of making a fair claim.
Throughout October we will be looking at a range of factors and changes which are occurring within the insurance industry and providing insights into the issues faced.
Focusing on the risk and regulation area of financial services, we will be taking a look at the big changes on the horizon for both consumer and insurer and how these will affect the marketplace and the overall approach to insurance.
We will kick off the campaign with an insight into the Insurance Thematic Review and how this will help shape the approach of insurers’ attitudes to consumer claims. With winter approaching, we will delve into some of the key problems faced by the industry with regards to sharp peaks in claims and the seasonal effect on the marketplace. To culminate the month we will also reflect on insurance industry progress over the last 25 years, as we emerge from recession.
Insurance products and the practices used are something many of us have experience of. We welcome your comments and thoughts on the changing industry and whether this indeed will be a positive change. Feel free to comment in our LinkedIn Group.
– Jennifer Harrington