Technology and globalisation have put customers in control in every sector. And in insurance - and financial services generally - regulators' focus has been increasingly attuned to optimising customer outcomes. That is now being reflected in their structures and stated priorities, says Global Head of Sales and Markets Gary Reader. Conduct is rising up the agenda.
As the insurance market becomes more transparent, and CEOs increasingly prioritise customer experience - as shown by KPMG's CEO Outlook Report - as a source of resilience and growth, what can we expect from regulators traditionally focused on prudential supervision?
Insurance Regulatory lead Janine Hawes also highlights the EU's new Insurance Distribution Directive (IDD) and Packaged Retail and Insurance-based Investment Products (PRIIPs) Regulations as key drivers of this increasingly conduct-focused environment.