News analysis: Mind the knowledge gap

Knowledge gap

A report by the Financial Conduct Authority (FCA) last month was another wake-up call that the sector needs to work together to drive consumer education and present information more clearly if public knowledge about insurance is to grow. 

The Financial Lives Survey laid bare once again the fact that the UK general public is sorely lacking in knowledge about insurance and how it works.

For example, it discovered that 17 million adults with motor insurance did not know what “no claims protection

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