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General Insurance Pricing Practices

The General Insurance Pricing Practices signal a new chapter in the FCA's focus on fairly-priced insurance products which provide real value to customers.

These are supported by a Q&A document that is regularly updated.

Learn what these rules are, how they apply to each role, and how you can use them to provide fair value to customers.
  • 25 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.
  • Insurance Compliance Library

Learning objectives

  • Comply with the General Insurance Pricing Practices (GIPP) and deliver fair value to your customers
  • Avoid discriminating against customers based on their tenure
  • Make detailed reports in line with the FCA's requirements
  • Understand the new level of accountability assigned to senior managers
  • Ensure that there are no material barriers preventing customers from changing providers

    What can you expect your employees to learn?

Introduction

What are the General Insurance Pricing Practices?

  • What is fair value?

Fair value assessments

  • What this means for insurance firms
  • What this means for insurance firms
  • Scenario: Fair value

Pricing strategy

  • Closed books
  • Application across the distribution chain
  • Pricing strategy challenges
  • Scenario: Pricing strategy

Reporting

  • Pricing submissions
  • Reporting challenges
  • Scenario: Reporting

Individual accountability

  • Accountability challenges
  • Scenario: Individual accountability

Customer engagement

  • Customer engagement challenges
  • Scenario: Customer engagement

Premium finance


Summary

Affirmation

Assessment

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Your questions, answered

Are Skillcast courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarationssurveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Is our training content still compliant with the latest legislation?

  • You can check the latest course content updates in our library updates page: https://www.skillcast.com/compliance-course-library-updates
  • For major legislative changes, we:
    • Will send you email alerts to ensure you are notified
    • Offer you a free trial of newly created or updated content
    • Host webinars with compliance experts to explain the changes and how our training supports your ongoing compliance

Can you translate our content into other languages?

Yes, we offer translations in a wide range of languages. Let us know your needs, and we’ll confirm availability or work with you to plan translations for your selected modules.

How can I give employees a secure way to record suspicious activity so we can act quickly?

Our Suspicious Activity Register allows staff to log concerns or irregularities they observe, helping you detect potential issues early. The secure register can be reviewed by compliance teams, enabling prompt investigation and action.

What file types are supported by the Skillcast system?

Features

Supported file types and details

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Policy documents

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Offline activities evidence

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