The insurance industry has pledged to embed “signposting” still further in order to help customers better access its products and services.
The British Insurance Brokers’ Association (BIBA) made the call as it launched its new Manifesto, Resilience.
The launch comes just weeks after the BIBA Travel Medical Directory received confirmation that it meets the Financial Conduct Authority’s (FCA) criteria for a ‘medical cover firm directory’.
A BIBA spokesperson said the launch of the directory provides a “simple solution” for travel insurance brokers and insurers who need to meet incoming signposting rules from the FCA and means that consumers with serious medical conditions will be signposted to specialists in certain circumstances.
BIBA has published guidance to the market on the incoming rules.
A BIBA spokesperson said the trade body believes signposting can aid “a great deal” in helping customers to access insurance and occurs when insurance firms point customers they are unable to assist to firms such as a specialist broker that can help. If firms are unaware of a specialist in any class of insurance, they can signpost to BIBA which will put the customer in contact with a specialist.
Graeme Trudgill, BIBA’s executive director, said: “For many different reasons some people can find accessing insurance a challenge. We are committed to helping consumers navigate their way to suitable insurance protection to improve their resilience to financial shocks. There are specialist brokers who can assist customers that represent both straightforward and the most challenging of risk profiles, we will play a key role in helping customers find them.”
In addition to helping consumers with medical conditions and those looking for flood cover, BIBA has also committed to the management and promotion of a number of existing signposting agreements to help older consumers to access travel and motor cover and to improve access to protection insurance.
