General Insurance Pricing Practices Training Course

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.

About this Course

This SCORM-compatible course is part of our Insurance Course Library.

The library is available in the Skillcast Standard plan for larger companies or Skillcast Basic plan for those with under 50 learners.

Learning Objectives

This course will prepare your employees to:

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

Course Outline

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

Course Specifications

Structure

Approximately 25-minute long e-learning course followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via a client style sheet.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.