Shaping the future of insurance

The Chartered Insurance Institute (CII) New Generation Claims group have published research investigating how technology and innovation is changing the claims environment and the professional skillsets required of professionals.

In response to the Financial Conduct Authority (FCA) today writing to more than 3,500 lenders to remind them of the standards they should meet as consumers across the country are affected by the rising cost of living, Matthew Connell, director of policy and public affairs of the Chartered Insurance Institute, said: “The FCA is right to highlight the needs of vulnerable consumers at this time – while it is not in anyone’s interests to stay in an arrangement that is not going to work in the long term, the current spike in inflation may still prove to be a shorter-term issue that can be alleviated by Government intervention. Tailored support for borrowers can reduce consumer harm considerably.”

The cost of living crisis has already caused a significant number of consumers to change the way they manage their money, a survey of financial planners and insurance professionals has revealed.

Insurance professionals and financial planners who have excelled in helping peers develop their careers were applauded at the Volunteer Awards ceremony last night (17 May).