QUARTERLY INSIGHTS FOR THE UK INSURANCE & FINANCIAL SERVICES MARKET
Current issues in insurance & financial services - Summer 2020
15 Jul 2020
In this edition of Current issues in insurance & financial services, we bring you the latest insights into the UK insurance & financial services market including:
- Mental health during a pandemic;
- Maximising customer engagement;
- Year end results and the impact of COVID-19;
- Building financial resilience for renters;
- Considerations for future stress event modelling, and;
- An update on maturing Child Trust Funds.
Mental health during a pandemic
The current pandemic is causing both health and economic difficulties across society. In this article, we look at the impact COVID-19 has had on mental health, and how insurers and employers can help.
Proactive communications key to engaging customers
In our second Hot Topics in Life Insurance webinar, our poll showed that proactive communications were considered the most important way to maximise customer engagement at this time. We explore some of the ways insurers can do more.
Year-end results and the impact of COVID-19
Following the release of insurers' 2019 Reports and Accounts, we take a look at the movements in solvency coverage ratios, how insurers are generating surplus, and how COVID-19 has since impacted insurers' solvency position since the year-end results were published.
Building financial resilience for renters
Earlier this month, the Institute and Faculty of Actuaries (IFoA) and the Building Resilient Households Group (BRHG) issued a joint report including analysis by Hymans Robertson, looking at the interaction of Universal Credit and protection insurance for renters.
Considerations for future stress event modelling
We are currently experiencing one of the most significant stress events in our lifetime. Can the data and information about this event enable firms to be better prepared for the future?
Maturing Child Trust Funds
The first cohort of Child Trust Funds (CTFs) will start to mature in September. In this piece we look at the background of CTFs, and some of the opportunities and challenges for insurers.