The Financial Conduct Authority (FCA) has thrown down the gauntlet to insurers to consider neurodivergent individuals when designing products.
FCA senior adviser for equality Georgina Philippou said the regulator wants firms to think about neurodiversity when they “define and deliver” products for their customers.
Speaking at the Gain industry group press conference, Philippou said the demand backed-up the FCA’s emphasis and suggestions on improving diversity and inclusion published in July.
These included warnings that senior manager pay and the fit and proper person test should be tied to diversity and inclusivity metrics along with the potential of setting targets, publishing data and naming responsible individuals.
But Philippou added that as the regulator becomes more data led, data and analytics, artificial intelligence and machine learning roles are increasingly opening up at the organisation – roles that provide a “tremendous” opportunity for people with neurodiverse conditions.
Philippou said the FCA itself was also supporting neurodiverse people in a variety of ways.
This included issuing guidance about meeting etiquette and having inclusive meetings – especially in a hybrid environment and providing training in inclusive leadership for all of managers, heads of departments and directors.
It is also ensuring line managers have inclusion objectives and are measured on them.
And it is providing additional time or support to colleagues with dyslexia and taking neurodiversity into account when allocating work and doing appraisals.
“This support is vital to make sure we get the most from our people so everyone contributes and thrives and we get the best outcomes in our work,” Philippou added.