Modern Insurance Magazine Issue 62

EDITORIAL BOARD
The new Consumer Duty
at RGI Solutions
In our commitment to Consumer Duty, we take
immense pride in our deep understanding of both
our team members and, most importantly, our
valued customers. We firmly believe that cultivating
an engaging, supportive, and high-performing
work environment for our team empowers them
to deliver excellence to our customers. This
fundamental principle seamlessly aligns with our
comprehensive Sustainability Strategy.
The core of RGI’s ethos has always revolved around demonstrating
how our customers’ needs are at the very heart of everything we do.
To ensure the consistent application of this ethos throughout our
organisation, we have implemented several key initiatives.
Educating Our Teams. We are actively developing comprehensive
communication materials designed to introduce the principles of
Consumer Duty to our teams. These materials not only elucidate our
responsibilities as a business, but also provide insights into how we
meet the stringent requirements set forth by the regulator.
Sharing Success Stories. We believe in leading by example. Therefore,
we regularly share success stories and case studies that showcase
the various ways in which we consistently deliver positive customer
outcomes. These real-life examples serve as a source of inspiration
and guidance for our teams.
Management Focus on Customers. In our monthly management
meetings, we have instituted a dedicated agenda item centred around
the customer. We also plan to extend this focus to target good
customer outcomes, meticulously reviewing customer metrics to
ensure strict compliance with FCA requirements.
Vulnerable Customer Training. Acknowledging the importance
of addressing the unique needs of vulnerable customers, we
have included comprehensive vulnerable customer training as a
fundamental component of our induction training plan for several
years. We are confident that this training remains not only fit
for purpose but also indispensable, and we are committed to its
continued integration.
At RGI Solutions, our unwavering dedication to Consumer Duty
underscores our commitment to delivering superior customer
experiences. Through these proactive measures and initiatives, we aim
to exceed the expectations of our valued customers. As we continue
to evolve and adapt in an ever-changing business landscape, our
steadfast focus on our customers will remain at the forefront of our
operations, driving our pursuit of excellence and trustworthiness.
Sarah Glenn,
Commercial Director, RGI Solutions
Offering Customer Choice and
Providing a Digital Footprint
The parallels between professional footballers
and claims handlers are not immediately
obvious. But push aside the stadium, stardom
and sporty kits, and the similarities rise to the
fore. Role requirements include embracing
teamwork and clear communication,
maintaining focus yet remaining calm under
pressure, and respecting strong leadership
to reach a shared goal. And when the going
gets tough, there’s a simple yet fundamental
philosophy for success.
Controlling the controllables has been the mantra of sports coaches
and insurance leaders for decades, and this has never been more
significant than it is today. After two years of rising inflation,
policyholders are feeling the financial strain, and whilst we can’t
control inflation any more than we can control the Premier League,
we can influence overall claims costs in the policyholder’s favour
whilst streamlining operations to manage our operating expenses.
Proactive intervention and recovery. FMG intervene with over 24,000
at-fault accidents per year, managing the third party’s claim with a
quality vehicle repair and replacement vehicle service to keep our
customer’s total claim cost to a minimum. Our ULR experts step in
when our customer is not at fault, recovering over £1.7m per month in
uninsured losses on their behalf.
Controlling repair costs. We eliminate bodyshop waste, drive
efficiencies in repair processes, and only use high quality (but
competitively priced) paint, tools and equipment, including non-
OE and green parts options. Our in-house independent automotive
engineers verify repair estimates and keep a close eye on repair
progress, ensuring quality repairs at the right price.
Vehicle recovery and storage. We control recovery and storage costs
for our customers following road traffic accidents, quickly recovering
RTA vehicles to their point of destination. Here, our experts efficiently
assess the damage, and triage to pursue total loss, salvage or repair
routes.
Digitalisation and robotics. We’ve invested in digitalisation and
robotics to streamline and automate processes. FMG Connect, our
omni-channel communications platform, gives customers choice in
how they interact with us, controlling operating costs for both clients
and ourselves.
Colleague engagement and retention. Our DE&I, personal
development, employee engagement and wellbeing strategies
support our aim to nurture our company culture. In turn, this
promotes the efficacy of retaining talent, key knowledge and
expertise, which means that we’re able to support customers
consistently whilst averting the high cost of recruiting and retaining
new employees.
We’re not a top flight sports club, and we can’t control the economy.
But we are a responsible, sustainable business, dedicated to focusing
on the areas of our operation that we can control, and excelling at
providing support for our customers through this economic storm.
Andrew Chandler,
Sales Director, FMG
MODERN INSURANCE | 27