Review of the Year 2022: Steve Wright and Bryan Banbury, Russell Scanlan
In the last part of Insurance Age's review of the year Russell Scanlan's managing director Bryan Banbury, and claims director Steve Wright offer their reflections on 2022 and predictions for the next 12 months.
What has been the most over-hyped insurance trend of 2022 and why?
Steve Wright (main picture): The most over-hyped insurance trend this year, has to be around the new consumer duty for financial services. This is yet another regulation trying to ensure that financial advisors put customers’ needs first (which the majority are doing anyway). What it now means is that their customer service, and communication capabilities will need to make further significant changes in order to be compliant.
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