22Nov
FCA Press release: FCA calls for firms to improve bereavement handling times and shares best practice
The Financial Conduct Authority (FCA) has found that while life insurers provide good service to bereaved customers, they need to settle claims quicker and improve how they measure customer experience.
The multi-firm review found evidence of good practice, such as firms providing additional support for claimants throughout what is a difficult time for them. The FCA also recognises firms can face challenges in providing a timely service, such as obtaining the evidence needed to assess a claim.
However, the FCA has found that many firms still have further to go to meet its expectations, particularly in the measurement, monitoring, and delivery of good service outcomes for customers.
