The Responsible Life Company
– Forum for the Future
Friends Provident commissioned Forum for the Future to explore what a responsible life company looks like from a CR perspective.
Forum for the Future concluded that responsible life companies recognise that a robust market is built upon well-designed, personalised and flexible products, sold with effective and understandable advice to customers who are financially capable of making informed purchasing decisions.
If functioning successfully, the responsible life market will generate mutual benefits for customers, companies as well as wider society.
Customers benefit from personalised products that are tailored to specific needs, provide flexibility and are adaptable.
Companies benefit from increased growth in the underlying life market, with better products, increased differentiation and stronger customer retention.
Society benefits from better protection of individuals, a reduced burden on the state and a fall in the savings shortfall, leading to a smoother demographic transition.
This work informs our overall CR programme as well as development work within marketing.
Related links
Caring for customers reportABI Customer Impact Survey (external link, opens new window)
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