ABI Conference 2023 marks one year of Plain Numbers Partnerships in Insurance and Long-Term Savings

Joining other Advisory Partners such as The Bank of England, HM Treasury, and the Building Societies Association, the Association of British Insurers (ABI) became part of the Plain Numbers community in February 2022.

Since then, ABI-member firms that have joined as Plain Numbers Partners include Admiral, Aviva, Bupa, Direct Line Group, Fidelity International, Royal London, RSA, and Standard Life (part of Phoenix Group).

Most recent to join in Partnership was Fidelity International earlier in the year, with members of their team already taking part in the Practitioner training courses we offer at Plain Numbers. We are excited to be reaching even more customers in the sector with the Plain Numbers Approach, ensuring that numbers are communicated clearly and fairly, in order to promote good customer outcomes.

By partnering with Plain Numbers, ABI members are helping their staff present and explain numbers as clearly and simply as possible to improve customer understanding. This is done through the initial training, followed by ongoing support with both individual communications, change management, and organisational focus.

Across our first year, we have trained more than fifty Plain Numbers Practitioners across the sector from our Partner organisations. Practitioners are now working to apply the Plain Numbers Approach to their communications. Over the coming months, consumers will notice more and more insurance and pensions documents that have been Plain Numbers certified – which means they meet the highest possible standards in terms of communicating numbers clearly.

An important part of our work so far has been supporting organisations to embed a Plain Numbers Approach into their culture and support staff to have improved awareness of the needs of customers who struggle with numbers. As part of this, hundreds of staff across the sector have attended Plain Numbers awareness sessions in our first year.

“We’re extremely proud to be supporting the important work of the insurance and long-term savings sector with the help of the ABI. It’s been noticeable that our Partner firms really put the customer at the heart of everything they do and that working with Plain Numbers is helping them to take that even further. I’m looking forward to continuing all our Partnerships in the sector over the years to come and helping firms to help their customers.” – Ben Perkins, Head of Partnerships and Services, Plain Numbers

The ABI’s involvement with Plain Numbers is part of a wider drive by the organisation and the insurance and long-term savings sector to put consumers at the heart of their work and improve consumers’ experience of dealing with the industry.

We have been proud to support the important work of the insurance and long-term savings sector this year. We are confident our work will be helping with industry-wide challenges such as pension engagement, understanding of insurance policies, and in particular helping firms meet their obligations under the FCA’s New Consumer Duty.  

Hetty Hughes, Manager in the ABI’s Long Term Savings Team, said, “We’re delighted that ABI members have embraced the Plain Numbers Approach with enthusiasm. It is wonderful to hear of all the good work going on by firms to help customers better understand their insurance and long term savings information so they can make the right decisions for them. I’m proud that the ABI has taken a central role in championing this important work. I look forward to continuing to work together with Plain Numbers over the years to come and seeing our members lead the way on improving their customers’ comprehension and confidence with numbers.”

We look forward to more work with our Partners and more firms from the sector joining us as we progress through 2023 and beyond.