Association of British Insurers

✨ We are absolutely thrilled to announce that TV star and pension newbie, Gemma Collins, is this year's Pay Your Pension Some Attention ambassador. Gemma features in a parody beauty advert tackling getting older and the effects of ageing, which is one of the top concerns of UK adults over the age of 35. New research found that six in 10 (57%) Britons bought anti-ageing products in the last 12 months, such as moisturiser or anti-wrinkle cream, while just one in five (23%) organised their finances for later life.  Gemma is calling on the nation to face their future with confidence and pay their pension some attention!  Find out more on the #PensionAttention website - https://lnkd.in/eKx_BVt6 #AssociationofBritishInsurers #Insurance #LongTermSavings #PayYourPensionSomeAttention #Pensions #Retirement

NEWS | Read our Director General's, Hannah Gurga, response to today's Budget - https://lnkd.in/edn6A6Nm #AssociationofBritishInsurers #Insurance #LongTermSavings #Budget24

⏰ The clocks go back on Sunday so why not use the extra hour to join National Pension Tracing Day and find any pensions you might have forgotten about. There's an estimated 3.3 million unclaimed pension pots, worth an average of £9,470, and one of them could be yours! 🔎 Visit the Pay Your Pension Some Attention website for tips on how to get started from this year's ambassadors, Gemma Collins and Iona Bain - www.pensionattention.co.uk #AssociationofBritishInsurers #Insurance #LongTermSavings #PensionAttention #PayYourPensionSomeAttention

Tackling fraud is a priority for the Association of British Insurers and our members, and I’m proud to be a member of the government’s Joint Fraud Taskforce. Yesterday, the industry and government launched an important new Insurance Fraud Charter. The industry is uniting in its efforts to identify loopholes in the insurance market, enhance collaboration and criminal justice outcomes, better understand the scale of the problem and improve victim support. The pledges include:   🚨 The National Crime Agency (NCA)'s National Assessment Centre carrying out a review into the role of professional enablers in the insurance sector - where someone provides false evidence to support a bogus insurance claim.   🔍 Identifying policies being exploited by "illegal insurance intermediaries" - someone pretending to be a broker or selling completely fake insurance to customers 🤝 Working with industry to understand uses of, and blockers to, information sharing between the insurance industry and other sectors, intra-sector, and government 🔐 Strengthening data security measures to stop insurance fraudsters using customer details to target people.  💻 Reviewing the tactics and websites being used by fraudsters to promote bogus insurance offers.   In 2023, ABI members detected over 84,000 fraudulent insurance claims worth £1.1 billion. The impact this has on victims is devastating and honest customers face higher premiums as a result. Tackling insurance fraud requires a collaborative approach between private and public sector. Through the ABI, the industry funds the Insurance Fraud Enforcement Department, a bespoke unit at City of London Police specifically set up to investigate insurance fraud nationally. We also helped to establish the Insurance Fraud Bureau (IFB) in 2006. The IFB supports the industry and law enforcement by providing intelligence, assisting in fraud investigations, and raise public awareness of insurance fraud scams. We continue to work closely with them to shape the industry's counter fraud strategy and ensure it remains agile and responsive to the changing fraud landscape.   As our lives become increasingly digital, online fraud has also increased. To raise awareness, we ran a campaign earlier this year to highlight the different types of online insurance fraud. We ran ads across social media, worked with financial influencers, and shared interviews and case studies to help the public stay safe online.   The Insurance Fraud Charter is part of the UK Fraud Strategy that we’ve been working closely with the UK Home Office on to implement. We're delighted to have agreed the Insurance Sector Fraud Charter with the Home Office, boosting the industry's resilience and ability to fight fraud. We look forward to continuing to work with the Home Office, Lloyd's, International Underwriting Association of London, LMA, LIIBA - London & International Insurance Brokers’ Association, BIBA and other industry signatories to implement the Charter commitments.

NEWS | Brits missing £31.1bn in unclaimed pension pots There is £31.1 billion lying in unclaimed, inactive, or lost pension pots, according to new research published ahead of this Sunday’s National Pension Tracing Day. The study carried out by the Pensions Policy Institute (PPI), sponsored by the Pay Your Pension Some Attention campaign, shows savers across the UK are in danger of missing out on large sums of money and are being encouraged to act, with almost 3.3 million pots not currently claimed by its owner. Find out more, and read the report, in the latest press release - https://lnkd.in/etVj63ra #AssociationofBritishInsurers #Insurance #LongTermSavings #LostPensionPots #Pensions #PensionAttention #RetirementSavings

EVENT | The Multiverse of Prudential Regulation *30% Discount until Friday 25th October*   We’re delighted that we will be joined by speakers from our event sponsors Wolters Kluwer and VantagePoint Matt Benaron, CEO, VantagePoint Consulting and Andy Moss CA, Account Director, CCH® Tagetik - Wolters Kluwer will be giving a quickfire expert session at #ABIPrudential Their session will explore how insurers can leverage technology to mitigate the burden of adapting to complex and ever-changing regulatory requirements   Book before 18:00 Friday 25th October using code 30DISCOUNT for 30% off your ticket price Find out more about the event, other fantastic speakers and book your place - https://lnkd.in/e5THx4h6    #AssociationofBritishInsurers #Insurance #LongTermSavings #PrudentialRegulation

BLOG | Improving population health: The role of insurers as investors This blog, written in collaboration with ShareAction, explores the role of insurers, both as protectors and investors, in influencing population health. It also sets out the steps that ShareAction has identified for insurers to take to harness their powers as investors to address health-related risks across society. Find out more - https://lnkd.in/eFkyG58C #AssociationofBritishInsurers #Insurance #LongTermSavings #HealthInsurance #IncomeProtection #Investment #ResponsibleInvestment

EVENT | Cyber Conference 2025   We’re thrilled that Edward L., CEO & Managing Partner, CyXcel will be speaking on a panel at #ABICyber   He will be joining our ‘Information Sharing and Legal – Protecting Privilege’ panel, exploring all things cyber information sharing. Including the benefits of transparency, existing industry frameworks and the legal sector position.   Find out more about the event, other fantastic speakers and book your place - https://lnkd.in/eXW6pjgA   #AssociationofBritishInsurers #Insurance #LongTermSavings #CyberInsurance #CyberRisk CyberCube

NEWS | Commonwealth insurance peaks collaborate on global insurance protection gap The Association of British Insurers, the Insurance Bureau of Canada, the Insurance Council of Australia, and the Insurance Council of New Zealand Te Kāhui Inihua o Aotearoa(ICNZ), have jointly written to the Prime Ministers of their respective nations calling for worsening extreme weather, and its impact on national economic and community resilience across the Commonwealth, to be put on the agenda as part of the Commonwealth Business Forum on 23 and 24 October. Find out more and read the letter - https://lnkd.in/ertEq49u #AssociationofBritishInsurers #Insurance #LongTermSavings #ExtremeWeather #CommonwealthBusinessForum

NEWS | ABI publishes its response to the FCA’s Value for Money consultation Responding to this consultation, we’ve highlighted our support for driving better returns for savers, and the need for consistent regulation across both the contract and trust-based pension market. Find out more - https://lnkd.in/eS5_JDDW #AssociationofBritishInsurers #Insurance #LongTermSavings #ValueForMoneyConsulation #ValueForMoney