Building partnerships enabling investment in prevention of ill health and access to services aimed at improving the health, productivity of the UK population is one of the central commitments of the Association of British Insurers’ (ABI) new three year strategy.
The ABI said it was putting customers, society and protecting the planet at the heart of its new three year strategy by focusing on three societal outcomes:
Invested in People and Planet
By leading an inclusive and responsible sector, the ABI said the industry will put people and the planet at its core.
It added it will continue to focus on the role the sector has to play in supporting the economic, health and environmental opportunities and challenges facing society.
From spearheading the industry’s transition to a Net Zero sustainable future through to Solvency II reform, the ABI said its work has already begun and is committed to continue driving it forward.
And in its strategy document, the ABI added it would “build partnerships that enable investment in health prevention and access to services – to improve the health, productivity and wellbeing of the UK”.
Trusted by customers
The ABI further committed to delivering initiatives that improve customer outcomes and understanding of products.
It added its continued partnership with Plain Numbers and today’s launch of the Fairer Finance toolkit, were just a few of the ways the strategy strives to boost trust with customers and to grow and better serve society in the years ahead.
An effective market
The ABI added that securing a legislative, regulatory and tax framework that unlocks the full potential of the sector to support customers and the economy was key to shaping an effective market.
It explained this will help the industry to drive change that matters to customers and wider society.
The strategy is underpinned by the ABI’s new purpose: “Together, driving change to build and protect a thriving society.”
According to the ABI, the combination of its new purpose and the strategy set out the ABI’s ambition to play a “leading role on behalf of its members in creating an environment that helps to protect consumers from risk and offer them long term financial security, while tackling the big issues of the day”.
Hannah Gurga, ABI director general, said: “Our new purpose and strategy set the direction for the ABI, bringing together key stakeholders and partners to drive positive change for our members, customers and wider society.
“Our industry is uniquely placed to support society, the economy and our planet.
”We stand ready to forge a new era of partnership between business and the state to tackle the long-term challenges we face, and as we seize the opportunities to protect and build a thriving society.”
Rt. Hon. Baroness Nicky Morgan, chairwoman of the ABI, (pictured) added: “The focus provided by the ABI’s new strategy is key to securing positive outcomes for consumers and wider society, bringing with it the main partners needed to drive change.
”We are already making progress on the critical issues that will define the years ahead, including supporting the transition to UK becoming the first Net Zero aligned financial centre.
”I look forward to ensuring the ABI board supports Hannah and her team as well as ABI members to realise the opportunities for our sector and economy.”