How to meet the FCA’s expectations
Insurers need to be able to articulate the way they make money if they want to satisfy the Financial Conduct Authority, according to Michael Sicsic, founder and managing partner of Sicsic Advisory.
In his Insurance Post Top Tips video, Sicsic advises insurers wanting to please the watchdog that they should:
- Understand the FCA’s expectations;
- Know their business model;
- Be prepared.
He said: “Move from ticked-box compliance to the FCA putting the onus on firms to justify the way they do certain things.
“Really understand the intent of the regulator and be able to apply that to your own business.”
Post’s Top Tips videos feature the industry’s leading lights sharing simple but effective ideas that could take your insurance business and career to the next level.
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