In addition, Wesleyan Assurance Society has become the latest company to join the scheme which represents almost 90 per cent of the UK life and savings industry.
The panel is the independent group with oversight of the customer impact scheme which is an initiative to improve outcomes for customers of the life, pensions and investment industry.
Customer impact panel chair Melanie Johnson says: “I am delighted that Otto has joined the panel. He is an influential figure within the industry and an ABI Board member. His work in a variety of areas, not least leading the Treasury’s review of generic financial advice, demonstrates a strong personal commitment to helping consumers.”
Thoresen says: “It is important for the industry to recognise the benefits of a greater focus on customers and Customer Impact has a significant role to play.”
ABI director general Stephen Haddrill says: “These developments show that the Customer Impact Scheme is gaining strength. I welcome Otto to the Panel, and Wesleyan to the Scheme. Otto’s industry experience and expertise will be invaluable to the Panel. Wesleyan, like all participating companies, will use the detailed information the Scheme provides in their work to maintain and improve customer service standards.”