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Every piece of information, specifically in policy wording, is critical in the insurance world.
There is something galling about dated statistics, especially when these statistics are held up as reflecting the present day state of a particular section of the South African financial services sector. Case in point, much of the retirement fund information used to underpin the Financial Sector Conduct Authority (FSCA) Financial Sector Outlook Study 2022 is only up to date to December 2019. And we are fairly certain that much of this information was presented during the last retirement fund media update we attended more than 10 months ago.
The Financial Sector Conduct Authority (FSCA) has its ‘five-year plan’ in the form of a 2021-2025 Regulatory Strategy that rounds-up some unsurprising plans, but still useful insight into what the FSCA will be focusing on this year – and beyond.
The FSCA today published the Financial Sector Outlook Study, which reviews the South African financial landscape and describes the financial industries regulated by the Authority.
If I were tasked with taking my firm’s customer experience (CX) to the next level, I would: