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:
- Current Issues in Life Assurance – 4 May 2017 – slide pack
- A presentation at Life Conference November 2017 – slide pack and video
- Value of With Profits newsletter article – December 2017
- A sessional meeting presentation – 5 March 2018
- An abridged version presented at Faculty of Actuaries Student Society – 14 March
- Regional presentations – May 2018
- Phase 1 report (desk based research) – June 2018
- A video presentation at International Congress of Actuaries – June 2018
- One survey was undertaken in 2017 and a further survey was undertakenin 2018
- Phase 2 report - July 2019
- Phase 3 report - December 2019
| Chair: | Tim Bateman |
|---|---|
| Membership | 7 |
| Established: | 2016 |
Related documents
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Guidance for Member-Led Research Working Parties
9 November 2017
Contact Details
If you want more information about this research working party please contact the Communities Team.
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