Product Governance for Insurance Firms - Ensuring Fair Value

Introduction

There is an increasing focus in retail financial services in the UK and Europe, and in the insurance market in particular, on pricing and fair value in the context of product governance.

In the UK, this is being accelerated by the new consumer duty regime and recent court judgments.

This webinar will delve into the principles of consumer duty and fair value, which are central to ensuring that insurance products meet the needs of consumers and comply with regulatory standards.

Recent changes in the regulatory regime and the regulator's evolving approach have heightened the importance of these concepts.

Failure to act appropriately could lead to significant legal and financial repercussions.

The webinar will provide you with practical insights and strategies to enhance your compliance frameworks, mitigate risks, and ensure that your products deliver fair value to consumers and meet the regulatory expectations.

It is suitable for insurers, brokers, distributors and other insurance intermediaries, as well as compliance staff, underwriters, other pricing staff, in-house lawyers, and in-house litigators.

What You Will Learn

The webinar will cover the following:

• Key principles - a brief overview of the regulatory expectations and the importance of fair value for the consumer duty and product governance
• Fair value principles - how to assess and ensure that insurance products provide fair value to consumers
• Recent trends - key updates and their implications for product governance in the insurance industry
• Practical compliance strategies - tips and best practices for implementing effective product governance frameworks
• Risk mitigation - identifying and addressing common pitfalls in product governance to avoid regulatory breaches
• Case studies - analysis of recent hot topic cases (including FCA's focus and review in motor vehicle related insurance sector) that highlight the importance of consumer duty and fair value in product governance
• Looking forward - predicting future trends and risks

This pre-recorded webinar will be available to view from Thursday 3rd July 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.