Consumer Duty: Two years on – the protection impact

Since the implementation of Consumer Duty, much has changed in protection and health, with providers leaving the space, a market study in full swing and increased pressures on the value chain amid tighter and tighter margins. The duty, which was welcomed as a 'game changing' opportunity when it came into force two years ago yesterday (31 July), focuses on delivering good customer outcomes in the four key areas of  products and services, price and value, consumer understanding and consumer support. Alan Waddington, distribution director, Cirencester Friendly, says that at the time "man...