The Consumer Duty Skills Toolkit Part 1

Two key pillars of the new Consumer Duty are consumer understanding and consumer support. With a move towards outcomes-based regulation, the need for a skills toolkit to stay on the right side of the regulation is critically important.

During this session, you will learn skills based around:

• working in an outcomes-based regulatory environment
• communicating in a way that aids accessibility and understanding
• checking understanding to facilitate informed decision-making
• recognising and handling behavioural biases throughout the customer journey
• recognising and dealing with vulnerable customers.

The session is interactive and includes exercises and simulations that will help you practise the skills learnt and how to evidence outcomes. It is aimed at those working within the UK insurance and financial services industry.

Learning Outcomes

By the end of the session, participants will be able to:

Identify the key requirements relating to consumer understanding and consumer support under the Consumer Duty.

Understand the key elements of outcomes-based regulation and the skills necessary to evidence outcomes.

Implement a strategy to utilise the skills taught to remain on the right side of the new regulation under the Consumer Duty.

This is part 1 of a 2 part seminar.