As you might expect of a professional body, instilling confidence and trust in our sector lies at the heart of what we do. It is this responsibility that inspired the development of the 2016 Life, Pensions and Long Term Savings Professional Commitment.
With the interests of consumers front of mind, we sought their feedback during the development phase of last year’s Commitment. We surveyed 2,100 consumers across the UK to gather their views on how to improve the customer experience with the sector.
The message was clear.More than 80 per cent of consumers said providers had a responsibility to improve professional standards at all levels, with close to 60 per cent suggesting a collective effort by firms, supported by a professional body, was one of the best ways to do this.
That is why we are taking a leading role to deliver a common framework for professional standards, aimed at supporting consumers who need guidance and support during a time of unprecedented complexity.
But we can’t do it alone. Two-thirds of consumers surveyed believe their confidence in the sector will improve if more firms sign up to the 2016 Commitment.
It is time for the sector to come together and demonstrate a joint commitment to what we summarise as the four Cs of professionalism: competence, conduct, culture and consistency.
Steve Jenkins is development director of the Chartered Insurance Institute