The Association of British Insurers (ABI) helps to inform and participates in debates on public policy issues and also acts as an advocate for high standards of customer service in the insurance industry. The Association needed to develop a framework for assessing current and future trends and the implications of these for insurance products.

Putting future issues into perspective 

Faced with issues such as rising premiums, new entrants to the market, fast-moving scientific developments, media coverage and changes in Government guidelines such as the reduction of the breast cancer screening age from 55 to 35, the ABI and Outsights designeda framework to identify the most important future drivers affecting their industry, as well as real actions for change.

More than 100 industry professionals attended the one-day workshop and Outsights facilitated the day to get the most out of the high level of expertise in the room. The workshop included keynote presentations covering the consumer, industry and independent analyses of the market. Participants then identified key drivers of change and solutions in breakout groups. Some of the key drivers identified were: increasing debt, regulation/consumer pressure, 24 hour society, increase to working life and the appetite for risk.

Making a clear case for change 

Following the drivers of change exercise, Outsights and the ABI came up with five key areas for solutions and change in the industry. Participants signed up for the areas of interest to come up with practical recommendations for change which included clarifying information for consumers; making insurance products easier to sell, buy and use; and raising standards through increased training and regulation.