This report for the Insurance sector and relevant retail sectors finds the detail on Outcomes from Insurers for Consumer Duty does not go far enough. Some good key points here to show what the end-to-end process needs to be.
💪 To meet requirements of the Consumer Duty, firms must regularly monitor the outcomes that their customers receive, which in turn will help them improve standards where necessary. Recently, the Financial Conduct Authority cautioned insurance firms to enhance their monitoring processes, after a recent multi-firm review of insurance companies, found varied practices among this sector. Read the full publication here 👉 https://lnkd.in/gaGd8mNQ #FCA #ConsumerDuty #regtech #riskandcompliance
