Product Governance

We help our clients to comply with the rules on product governance, pricing and fair value

Time is running out for meeting the initial deadlines and if you need help in understanding what it is you need to do, please speak to us.

There will continue to be a lot of activity through 2021/22 as firms work to meet the deadlines some of which are October 2021 and January 2022 for the implementation required.

It is important that product governance committees or senior management teams function remain sighted on these requirements and we recommend it is firmly on board agendas (where relevant).
This is a lengthy and significant collection of new regulatory expectations, that will have a considerable impact on many firms.

Some areas include product governance , pricing, fair value assessments,: auto renewal, reporting , premium finance requirements . The rules will be more onerous for some, depending on your role in the market place.

We are helping our clients (for example Brokers, MGA’s, insurers,) to really get to grips with what it is they need to do and by when

Here is an indication of some of the services:

  • Consultancy to understand the rules and requirements and how they affect you and what you need to do firm
  • Conducting Product governance and product value reviews
  • Providing Product governance webinars for all in the chain (Manufacturer, Co manufacturers, Distributors)
  • Providing Product governance bespoke training sessions; a number of drilled down sessions to really help firms get to grips with some of the content of the Market Study and the deadlines
  • Implementation , Review and stress testing of business policies and procedures in this area
  • Attending product Governance and pricing committees for external independent input

Preparing your Consumer Duty Board Report by 31st July 2024 - How can the Create Solutions team help?