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General Insurance Pricing Practices

The General Insurance Pricing Practices signal a new chapter in the FCA's focus on fairly-priced insurance products which provide real value to customers.

These are supported by a Q&A document that is regularly updated.

Learn what these rules are, how they apply to each role, and how you can use them to provide fair value to customers.
Get started Course details
  • 25 Minutes
  • All staff
  • Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

Learning objectives

  • Comply with the General Insurance Pricing Practices (GIPP) and deliver fair value to your customers
  • Avoid discriminating against customers based on their tenure
  • Make detailed reports in line with the FCA's requirements
  • Understand the new level of accountability assigned to senior managers
  • Ensure that there are no material barriers preventing customers from changing providers

    What can you expect your employees to learn?

Introduction

What are the General Insurance Pricing Practices?

  • What is fair value?

Fair value assessments

  • What this means for insurance firms
  • What this means for insurance firms
  • Scenario: Fair value

Pricing strategy

  • Closed books
  • Application across the distribution chain
  • Pricing strategy challenges
  • Scenario: Pricing strategy

Reporting

  • Pricing submissions
  • Reporting challenges
  • Scenario: Reporting

Individual accountability

  • Accountability challenges
  • Scenario: Individual accountability

Customer engagement

  • Customer engagement challenges
  • Scenario: Customer engagement

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Summary

Affirmation

Assessment

Does your company have…

Under 50 employees?

We recommend our CoreCompliance solution, perfect for smaller teams. Start your training immediately with pre-configured, ready-to-go courses.

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Identify risks, avoid violations, and safeguard your business. Our bribery prevention training teaches you how to protect your organisation’s reputation and avoid costly errors.

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Your questions, answered

Common FAQs

Are the courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Can users only view the courses assigned to them?

Yes. Users can view all the courses in the portal that have been assigned to them as either mandatory or optional. Courses that are mandatory will have a deadline shown.