Insurance compliance training in the UK spans FCA and PRA regulations, cybersecurity, financial crime prevention, complaints handling and more, helping reduce risk and operational friction while lowering costs.
Key takeaways
-
Regulatory compliance training encompasses programmes designed to help you understand, follow and stay up to date with applicable laws and ethical requirements.
-
Compliance training is important for numerous reasons, from helping avoid fines and protecting a firm’s reputation to meeting regulatory requirements.
-
UK insurance compliance training covers FCA and PRA regulations, TCF, the Consumer Duty, cybersecurity and more.
-
Compliance training challenges facing the UK insurance industry range from increasing and evolving regulatory burden to AML risks.
-
Regulatory compliance training for insurance helps reduce risk and operational friction and can lower remediation costs.
-
In terms of insurance compliance training, Skillcast offers a comprehensive range of e-learning courses, a compliance management platform, a 24/7 digital AI assistant, a CoreCompliance solution for small businesses, and bespoke content services.
Compliance training for insurance
- What are regulatory compliance training services?
- What compliance challenges face the UK insurance industry?
- How can regulatory compliance training for insurance help?
- Compliance training: what does Skillcast offer?
- Compliance training for insurance: case studies
- Regulatory insurance compliance training: FAQs
- References and further reading
Regulatory compliance training services help businesses stay compliant, reduce risk and ensure employees know how to operate within the boundaries of applicable laws.
Insurance compliance training involves e-learning and workshops, equipping staff with relevant regulatory knowledge laid out by bodies such as the Financial Conduct Authority (FCA), helping prevent errors while fostering a culture of integrity.
We offer a range of compliance training for insurance, designed to provide a complete solution, including the Skillcast Conduct Risk Training Course and the Skillcast Complaints Handling Training Course. Furthermore, you can manage your insurance training using the Skillcast Compliance Portal.
What are regulatory compliance training services?
Regulatory compliance training refers to professional programmes designed to help companies and individuals understand, follow and stay up to date with applicable laws, regulations, standards and ethical requirements.
The services typically include:
- Education on laws and regulations
- Industry-specific compliance training
- Risk prevention and management
- Policy and procedure training
- Ongoing and updated training
- Assessment and certification
Why are compliance training services important?They help organisations:
|
Compliance training: UK insurance industry
In terms of the United Kingdom, insurance compliance training helps related professionals understand and adhere to the regulatory framework governing insurance activities in the country. It spans:
-
FCA and Prudential Regulation Authority (PRA) regulations
-
Treating Customers Fairly (TCF)
-
Consumer Duty
-
Insurance-specific conduct rules
-
Data protection and cybersecurity
-
Complaints handling and claims management
What compliance challenges face the UK insurance industry?
The UK insurance industry faces broad compliance challenges, affecting anything from large insurers to small brokers, including:
-
Increasing and evolving regulatory burden
-
Embedding consumer protection and conduct standards
-
Anti-money laundering (AML) and third-party risk
-
Data protection, cybersecurity and technology governance
-
Operational, talent and cost pressures
-
Governance, culture and conduct rules
-
Climate change and ESG reporting considerations
-
Penalties and enforcement risk
How can regulatory compliance training for insurance help?
Regulatory compliance training helps UK insurers turn complex requirements and frameworks into consistent, day-to-day behaviours. In turn, that reduces risk and operational friction, going well beyond 'tick-box' learning.
There are instances of regulators viewing poor training as a root cause of misconduct. Well-designed courses help remedy that, ensuring employees understand what the rules require and how they apply to their role, be it the Consumer Duty, data protection or AML.
Compliance training also helps insurance firms move from rule awareness to outcomes-focused behaviour, by:
-
Teaching employees how decisions affect customers
-
Clarifying what fair value, clear communication and appropriate support mean in real situations
-
Reducing mis-selling, complaints and customer harm
On top of that, effective insurance compliance training cultivates a strong internal culture, reinforcing responsibility beyond the compliance team. Moreover, it improves consistency across the company and helps staff adapt quickly to new or amended rules, reducing disruption and potentially costly errors.
Compliance training requires investment, but ultimately, it:
-
Lowers remediation costs, fines and complaints handling
-
Reduces reliance on manual oversight and rework
-
Helps you scale safely without increasing compliance headcount
Did you know?36% of UK financial businesses faced compliance penalties in 2024 for failing to meet regulatory demands. |
Compliance training: what does Skillcast offer?
When it comes to insurance compliance training, Skillcast is on hand to help with the regulatory complexities of the industry and more, ensuring you deliver "consistent, engaging and effective compliance training".
1. Compliance training and e-learning
Skillcast provides a large library of compliance e-learning courses covering regulatory topics such as:
-
Anti-money laundering
-
Data protection – for example, the General Data Protection Regulation (GDPR)
These courses help organisations educate staff on how to comply with relevant laws and standards, and more.
2. Compliance management platform
Our service-as-a-software (SaaS) Compliance Portal includes tools that support compliance workflows, such as:
- Learning Management System (LMS) to assign and track training
- Policy Hub for centralising documents
- Compliance registers and surveys
- Staff declarations and reporting tools
3. Aida, your 24/7 artificial intelligence (AI) digital assistant
Tailored specifically for compliance training, Aida focuses "solely on delivering information pertinent to course content or referring legislation," ensuring "employees receive guidance that is accurate and aligned with company standards".
4. CoreCompliance Solution
Skillcast offers CoreCompliance, a ready-to-use portal aimed at small businesses, providing regulatory compliance training and tracking to help organisations stay compliant with evolving regulations.
5. Custom content services
We provide bespoke content development and customisation of courses and training materials, supporting an organisation’s specific compliance needs.
Compliance training for insurance: case studies
Skillcast has helped over 1,400 companies master their compliance training, with solutions that provide better control and management of the entire compliance learning journey, protecting them from lapses in compliance and regulatory investigations.
Evolin Broking
Evolin offers custom insurance solutions and was looking for a scalable, efficient compliance training system. After turning to Skillcast Premium, they transformed their compliance training programme.
"I have been extremely pleased with Skillcast from the beginning. I am the primary admin for the system (as well as a user), and I find it very easy to use. I review and customise all content before assigning the courses to our staff.
I love that Skillcast does not ‘gatekeep’ this functionality and even gives us the ability to build a course from scratch. That said, the Skillcast team is always ready to jump in and help when needed, so you never feel like you’re‘on your own in figuring anything out."
Aviva
When the UK’s largest general insurer decided it wanted to build a unified compliance e-learning course, Skillcast was the vendor for the job. Previously, the time and admin overhead to deliver the required learning modules was estimated at the equivalent of 200 full-time employees (a cost of approximately £7.75 million a year).
After collaborating with us to develop a single compliance essentials learning module, Aviva:
-
Significantly reduced overall process time for essential learning
-
Simplified audience management and reporting
-
Experienced administrative savings
In short, we help UK insurance organisations meet regulatory compliance obligations by providing training, learning platforms and compliance management tools. Get in touch for more information or an interactive online demonstration.
Regulatory insurance compliance training: FAQs
What is the Consumer Duty?
A UK regulatory framework introduced by the FCA to raise standards of consumer protection in financial services. It requires firms to act in a way that delivers good outcomes for retail customers, not just comply with technical rules.
What is the SM&CR?
The Senior Managers & Certification Regime is a UK regulatory framework introduced by the FCA (and the PRA for some firms) to enhance individual accountability, governance and conduct in financial services.
What is the PRA?
The Prudential Regulation Authority is part of the Bank of England; it “makes sure firms do business safely and reduce their chances of getting into financial difficulty”.
Is compliance training mandatory in the UK insurance industry?
Yes. There are requirements under Senior Management Arrangements, Systems and Controls (SYSC), SM&CR, and training and competence rules (for relevant roles). How it’s required depends on applicable regulations rather than a single stand-alone training law.
Who must complete compliance training?
In general, all employees (basic conduct and awareness training), senior managers (SM&CR, governance and accountability), certified staff (role-specific regulatory training), claims handlers, underwriters, sales and distribution staff, complaints handlers, and customer-facing teams.
Looking for more compliance insights?
Our Essentials Library contains e-learning content designed to help organisations meet fundamental compliance requirements. If you’re looking for focused training, our training packages offer a complete solution for your compliance programme. For insurance, this covers topics such as:
Our e-learning courses are designed to engage employees with our microlearning library, which was created to support knowledge retention.
Our Compliance Portal also features a range of tools to digitise and automate your compliance learning. These include our:
If you’d like to access leading insights and compliance tips, you can browse our free resources by topic to find guides, modules, compliance bites and more.
References and further reading
-
Bank of England, What is the Prudential Regulation Authority (PRA)?
-
Elephants Don’t Forget, FCA enforcement puts ‘inadequacy of staff training’ under the microscope
-
FCA, Complaints and root cause analysis: good practice and areas for improvement
-
Insurance Edge, One Third of UK Businesses Face Compliance Penalties
Written by: Laura Evans
Laura is an experienced content writer with a history of creating well-researched, high-quality copy that informs and sparks curiosity. She’s also worked with instructional designers to develop scripts, microlearning units and learning content for various businesses. Laura has a degree in Economics and Politics from LSE, and in another lifetime, she had a decade-long career in finance at a hedge fund.
