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Alan Newman

Alan Newman invites responses on his thoughts on Innovation in the Insurance industry

by Alan Newman 15/03/11 Category: Comment

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Today is Innovation (back?) on the Insurance agenda following the recent publication of a report by the CII and Cass Business School?  As this blog is not to exceed 500 words, I shan’t be summarising the report’s findings here, but I do recommend that you read it. And before I share some hopefully-useful experience-based observations with you I would welcome your responses to four specific questions: Do you know of any individual in an insurance company who has or had an innovation-related performance measurement? Do you know of any insurance company that includes innovation in the way it measures its…
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CONSUMERS DO NOT NEED TO BE TRAINED IN FINANCE

by Alan Newman 20/10/10 Comment

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Alan Newman argues : CONSUMERS DO NOT NEED TO BE TRAINED IN FINANCE: BANKS & INSURERS NEED TO BE TRAINED IN ‘CONSUMER’ At banking and insurance conferences and seminars over the last 20 years I have heard many speakers referring to the need for financial education – it being self-evident that the public lacks the necessary financial capability to fulfil its responsibilities. Government agrees. An FSA discussion paper in 2008 was entitled, ‘Consumer Responsibility’. It ran to more than thirty pages. That’s a lot of responsibility. The Financial Services and Markets Act (FSMA), in a fine example of ‘Sir Humphrey…
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Alan Newman asks “What’s Your Poison?” in our latest blog

by Alan Newman 01/09/10 Comment

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Are you afraid of snakes?  Many people are, even when there is no reason to be.  And they develop a rule-of-thumb;“Best be on the safe side and avoid all snakes.” A consequence of this is that some harmless and beneficial snakes have mimicked those that are venomous (and so are best avoided).  But rather than avoid them, some people take it upon themselves to attack all snakes – and then they complain when they’re hurt by a venomous one as a result. But handled in the right way even venomous snakes can be of benefit.  What is dangerous for one…
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Alan Newman wonders just how engaged we are with consumers…

by Alan Newman 01/02/10 Comment

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Last week I attended a conference that had been organised by the National Consumer Federation. Its theme was the response of consumers to the credit crunch.  It had a very strong line-up of speakers, including: Chris Pond – Director of Financial Capability, FSA David Thomas – Chief Ombudsman, Financial Ombudsman Service Diana Miller – Director, Group Risk & Compliance, L&G Dr Yvonne Braun – Assistant Director, Savings and Retirement, ABI Kevin Brennan MP – Minister of State, Business, Innovation & Skills Lord Lipsey – former Chair, Financial Services Consumer Panel Paul Lewis – Financial Journalist (including BBC’s Money Box) Richard…
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