The Chartered Insurance Institute (CII) has created a new chartered transparency forum to analyse the means of how the insurance industry is attempting to meet customer expectations.
The new forum includes consumer representatives, legal experts and leading practitioners from across the profession, who will help calculate the insurance expectation gap in policy coverage versus customer understanding.
The group will also lead a campaign to promote the standards and learning from its research, with the objective of collectively improving public trust by reducing the expectation gap.
The group, chaired by the CII’s professional standards director Melissa Collett, includes Peter Blanc, group chief executive of Aston Lark and Graham Trudgill, executive director of British Insurance Brokers Association.
Sian Fisher, CEO of the CII, said: ‘‘When people buy insurance, they are buying a promise of help when things go wrong. But too often, there is an expectation gap between what customers thought that promise was and what the provider intended.
‘‘To improve trust, we must understand exactly what leads to that gap, and how we can reduce it together. This forum will establish ‘what good looks like’ and encourage good practice across the profession.’’
She added: ‘‘I look forward to working with everyone who wants to build trust in insurance to put the insights of the forum to good use and establish principles for the profession to follow.’’