NEWS

During the last 24 months the insurance industry has sometimes found itself in the spotlight but, unfortunately, not always for the right reasons. This year’s High Court ruling against banks over PPI selling practices was a real wake-up call for many in the industry and a strong reminder that the customer’s interests should always come first.

We’ve also seen the publication of the Association of British Insurers (ABI) “Good Practice Guide” which sets out a series of high level standards that insurers and distributors should adhere to in order to ensure that customers are treated fairly.

Our view is that the guidance set out by the ABI is genuinely beneficial for customers and, in fact, the majority of recommendations were in place as standard practices for us well before the publication was released in February 2011. We firmly believe that the industry as a whole will benefit from adopting the recommendations that continue to put the consumer’s interest at the centre of activity such as product design and development.

Nancy Rignall, Head of MAPFRE ABRAXAS said “For us, this is very much about continuing and building on what we’ve already been doing. It is vital that the FSA principles of Treating Customers Fairly continue to be the cornerstone of all of our activity.”

The key thing now is for insurance providers to give support to dealers, manufacturers and brokers at a time where the landscape continues to change. Insurance sales remain a vital income stream for dealers and manufacturers in particular and it’s right that they should expect product providers to help guide them through any challenges that lie ahead.

Nancy Rignall added “MAPFRE ABRAXAS has put all the resources required in place to be able to support our partners in the implementation of the recommendations put forward by the ABI. We will continue to offer our full support to our partners at the time they decide they want it. This is very much about working together for the right outcome.”

If you want to get in touch with us about this subject then please call 0845 136 8430 or email us at enquiries@mapfreabraxas.com. 

We’ve also seen the publication of the Association of British Insurers (ABI) “Good Practice Guide” which sets out a series of high level standards that insurers and distributors should adhere to in order to ensure that customers are treated fairly.

Our view is that the guidance set out by the ABI is genuinely beneficial for customers and, in fact, the majority of recommendations were in place as standard practices for us well before the publication was released in February 2011. We firmly believe that the industry as a whole will benefit from adopting the recommendations that continue to put the consumer’s interest at the centre of activity such as product design and development.

Nancy Rignall, Head of MAPFRE ABRAXAS said “For us, this is very much about continuing and building on what we’ve already been doing. It is vital that the FSA principles of Treating Customers Fairly continue to be the cornerstone of all of our activity.”

The key thing now is for insurance providers to give support to dealers, manufacturers and brokers at a time where the landscape continues to change. Insurance sales remain a vital income stream for dealers and manufacturers in particular and it’s right that they should expect product providers to help guide them through any challenges that lie ahead.

Nancy Rignall added “MAPFRE ABRAXAS has put all the resources required in place to be able to support our partners in the implementation of the recommendations put forward by the ABI. We will continue to offer our full support to our partners at the time they decide they want it. This is very much about working together for the right outcome.”

If you want to get in touch with us about this subject then please call 0845 136 8430 or email us at enquiries@mapfreabraxas.com.