Analysis

Briefing: Consumer Duty - Regulatory headache or brilliant opportunity?

By Matt Scott 2022-10-06T11:31:00

opportunity

The FCA’s new rules underscore opportunity to boost profitability using customer experience

As the latest in a long line of regulatory interventions from the FCA, the new Consumer Duty rules will introduce a swathe of fresh requirements for insurers to grapple with.

It is hard to argue against the consumer benefits of these regulations, but while they will undoubtedly increase the compliance burden for insurers, they also present a myriad of opportunities that can help insurers to win new business, better retain existing customers and boost profitability.

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