Consumer Duty – Supporting customers, together

Following our messages earlier in the year, we’d like to share an update with you on our progress with the new Consumer Duty. 

We’ve now completed our analysis of the requirements and testing of our customer journeys, processes and communications, and have taken any necessary actions. 

We’ll continue to regularly review our communications and product offerings, and make changes through our continuous improvement programme, to ensure that we consistently deliver good outcomes for our customers.

What we need from you

We’re not expecting a need to request any additional information from you in relation to Consumer Duty. If you have any feedback relating to our communications or products, please contact your Key Account Manager.

We’ll be in touch with you in September to share our 2023 Fair Value and Product Re-approval Assessment results for LV= products.

More information

Full details of the Consumer Duty requirements can be found via the FCA’s website, as well as information for firms and Consumer Duty podcasts.  

Thank you for your continued support.