CP Pathway Webinar #7
Implementing Client Protection in Insurance Practices
In financial services, clear communication is crucial, especially when offering complex products like insurance. The Implementation Series #7 webinar, conducted by Rula Mheissen (CP Specialist at Cerise+SPTF), highlights key requirements for FSPs to deliver insurance products responsibly.
The session provides key guidance on integrating client protection principles into insurance practices. We delve into the responsible design and transparent communication of insurance terms, (timestamp 8:13 in the recording) illustrating how these factors can enhance client understanding and trust. We then also explore the essential metrics and KPIs (at 20:44), which are crucial to tracking the efficiency of the products and their suitability to clients.
The webinar also features key insights from guest speakers:
- Bdour Hyari, Director of Strategic Planning & Business Development at Microfund for Women, showcases the AFYATUNA microinsurance program (at 29:12), demonstrating how combining qualitative and quantitative research enhances market understanding, while strong insurer partnerships ensure long-term success. She emphasizes: âMicroinsurance is about empowering clients and communities. Our responsibility is bringing the best value for our clients.â
- Mazin Nimri, Deputy General Manager at Jordan Insurance Company (JIC) presents the insurance providerâs perspective (at 52:30), sharing lessons from AFYATUNAâs evolution into a success story. He stresses: âIf you pilot the product, listen to the client, develop the product for the right reason, keep it simple, and keep an eye on the KPIs, you will ensure success for all stakeholders.â
- Download the presentation in English.
Client Protection Pathway Implementation Series
The Client Protection Pathway describes the steps that a financial service provider can take to implement the client protection practices necessary to avoid harming clients and communicate this progress to investors. The Pathway gives providers a roadmap for implementing the Client Protection Standards and helps them stay on track.
Protecting your clients is essential to your business and to their welfare, but it is not easy. At every step on the Pathway, we have resources and support ready for you. When you join the Client Protection Pathway, you join a global network of people who are committed to client protection.
We encourage all financial service providers on the Pathway to implement better practices by learning about critical client protection topics covered in our Implementation Series. Signing up to the Client Protection Pathway signs you up to the series. You can find recordings and presentations from past events here.