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The customer is king couldn’t be a more apt description for the Consumer Duty coming into force this year, and insurers will need to set the bar high to make sure they comply with the extensive new standards.

The Consumer Duty sets out higher and clearer standards that put the consumers’ best interest at the epicenter of every retail financial service provided.

What does this mean for you? Well, fear not. We set out everything you need to do to make sure you’re at the top of your game when the shake up hits the ground.

This Smart guide is packed with guidance on how insurers can get ready for the upcoming changes.

After reading this Smart Guide, you’ll understand:

  1. What the Consumer Duty is and what it means for your firm
  2. How you’ll need to adjust your approach to your product and service offering
  3. Embedding processes that will mean you always come out on top

Key takeaways


Understand how you can use call intelligence to unearth exactly what your customers need so you don’t end up in hot water

Monitor Calls at Scale

Learn how call intelligence enables you to monitor every single call at scale to make sure you’re always sticking to the standards


Know how to leverage these insights to quickly spot and address compliance issues at scale as well as at an individual agent level

The new Consumer Duty will be enforced on 31st July 2023 and will apply to new and existing products. This means now is the time for firms to get preparations underway to make sure they don’t fall short of the new standards.

But 2023 isn’t the only year when firms will be expected to take action. As of 31st July 2024, the new standards will also be applied to existing products as well as those no longer available but still in use.

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