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The value of with-profits for consumers

This working party investigated whether consumers understood the value of their with-profits policies and, in particular, was the value of inherent guarantees and potential for real asset growth recognised by consumers? It also sought to understand what the consumer’s perspective was on the run-off of with-profits funds? Are consumers getting what they signed up for and do they understand the potential ‘end games’ of the run-off of the fund? The working party closed down in December 2019, after producing three reports.

Key objectives:

  • desk based research into the key themes, products and issues
  • survey of life office with profits practitioners
  • interviews of industry commentators/ABI
  • interviews with FCA and PRA on views
  • with-profits policyholder surveys/interviews/focus groups.

Key outputs:

Chair: Tim Bateman
Membership 7
Established: 2016

 

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Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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