Learning posts

These posts are all about ethics training and how insurance people can learn about the ethics of insurance. It's becoming more and more important.

Ethical decision making is the best response to individual accountability
The rise of individual accountability for insurance executives has highlighted the importance of bridging the gap between ‘thinking about ethics’ and ‘doing ethics’. Ethical decision making is a set of skills designed for that purpose.
Data and Power pt4 – the right skills are vital to success in data ethics
A commitment to data ethics will only succeed if the people delivering this transformation of insurance have the right skills. Insurers have a long way to go on this.
Why cognitive diversity can boost ethical performance
Cognitive diversity can be hugely influential when it comes to ethics. Views are encouraged, voices heard and challenges met. In such changing times for insurance, this matters
What impact does ethics training have?
Ethics training is a waste of time, unless it has an impact. All very good you might say, but what evidence is there for that impact? Detailed research in US financial services makes that clear.
Some thoughts on ethics, insurance and the pandemic
It is in times like the present that the reputation of the insurance sector will be defined. Here are some thoughts on ethics, insurance and the current pandemic.
The big ethical challenges facing insurers in 2020
2020 will be an eventful year for insurers. During the many years I’ve been tracking the ethical challenges facing insurers, never before have I seen so many issues demanding attention. Some firms will find the learning curve steep and challenging.
Will there soon be compulsory ethics training for insurance algorithms?
Ethics training is compulsory in several countries' insurance markets. So what happens when decisions are increasingly being made by algorithms? Should they have compulsory training too?
Are firms looking in the wrong place for unethical behaviours?
Many insurance firms organise themselves to be on the lookout for the big unethical scandals that might ruin their reputations. It may make sense, but it misses out something vital.
Be honest with yourself: ethical dissonance and personal accountability
Addressing ethical dissonance will improve trust in your firm and reduce the risk to executives of personal regulatory sanction. Here's how to recognise it and organise your response.
The biggest ethical challenge facing insurers in 2019
The insurance sector will face some big ethical challenges in 2019 but one challenge will stand above all others. And surprisingly, it's not pricing.
Assessing Integrity in Good People
What’s the point of assessing integrity? On the face of it, it’s to have evidence that your senior people understand what integrity means. Actually, that’s not the point you should be aiming for.
Don’t take the wrong approach to ethics training and integrity assessments
A lot of ethics training can please compliance providers, but it often has little impact on how insurance firms operate. That because it's evidencing the wrong thing. Here's why.
Research confirms the main reason for insurer failure in the EU is unethical practices
Why do insurers fail? It turns out that ethical problems play a big part. Insurance may be complicated, but it's the human factors that really matter.
How can insurers get people to open and read their code of ethics?
How do you make sure people are opening and reading your code of ethics? My review found that insurers were missing out on some significant opportunities.
An important lesson for insurers to learn about their codes of ethics
Codes of ethics tell people about a firm's ethical commitments. I’ve completed a detailed review into how insurers do this. The first finding was a surprise!
Where the really fundamental changes in insurance will emerge
How transformative are the changes happening in insurance at the moment? In amongst the noise of disrupting start ups, is a paradigm shift under way?
Two simple ways to make a fair decision
In the midst of demanding situations and time pressures, there will be occasions when it will be important that we make a fair decision. What can we do to make this as easy and straightforward as possible? Here are two skills that will help.
A Vital Step to being Good at Ethical Dilemmas
There are many ethical dilemmas in insurance. And they often make people angry, and suspicious and fearful, and many other things besides. Yet that emotional side is often overlooked. Being good at ethical dilemmas can often hinge on how those emotions are handled.
Four Ethics Courses for Insurance Professionals
This year could be a daunting one for some insurance people. Over the next 12 months, they’re going to have their integrity assessed. And if they fall short, their certification to practice in the sector could be affected. These four ethics courses address this problem head on.
Why ethics training has to be a big priority for insurance people
The importance of ethics training for insurance people is going to soar over the next three years. And when I say soar, that’s no exaggeration. Insurance people are going to be weighed up and tested like never before. The main driver for this will surprise you.
Ethics in Insurance: the challenges ahead in 2018
2018 looks like it will be an eventful time for ethics in insurance. Here are 11 areas where insurers will find the big ethical challenges.
How to teach leadership on ethics in a way that actually works
If leadership on ethics is on your learning and development agenda for 2018, you need to remember three important things about how to structure it.
Learning Integrity – what works and what doesn’t work
How do you go about learning integrity? Senior insurance executives in the UK will soon have to provide evidence of what they know about it.
What insurance people must learn to make better decisions
Learning professionals need to pay attention to behavioural factors that influence the way we make decisions, in order to influence the ethical culture at their firm.
5 beliefs that get in the way of people addressing ethics
I’ve come across a number of beliefs that get in the way of insurance people getting behind their firm’s push on ethics. Here's 5 of them.
Where do you start your ethical decision making?
Let’s say you’re faced with a decision that has an ethical side to it. And you’ve decided this time round[...]
Interesting Research into the Ethical Orientation of Insurance Managers in India
When we’re questioned about how ethical we are, most of us respond very positively, and that’s great, but it’s not[...]
Is insurance missing the point with conflicts of interest?
Conflicts of interest are so common in insurance that they’ve given rise to a raft of rules, policies and procedures[...]
The power of a good story for tackling ethical challenges
When I talk with people about the causes of corporate misconduct, I make clear that it rarely happens because of[...]
Ethical awareness for underwriters: Pt2 – the self serving bias
The scope of what underwriters need to have on their radars is getting ever wider. The expanding horizon of rating factors[...]
Listening: the most ethical activity of all?
Listening is perhaps the most ethical activity of all. It’s the best way to learn things, about what people do[...]
Ethical Awareness for Claims People – pt4 – Fading
Hindsight is a complex thing when it comes to ethics. You may look back at something you’ve done and have[...]
Ethical Awareness for Claims People – Part 2 – Attributing
At the heart of the role that claims people have lies the weighing up of a range of factors that[...]
The most important ethics training for 2016
If I was asked to recommend only one session of ethics training that every insurance firm should undertake in 2016,[...]
Ethical dilemmas are the last stage of ethical decision making – here’s stages 1 and 2
I write many ethical dilemmas - it's fun assembling the characters and devising a situation when conflicting values have to[...]
Ethics survey reveals a lot about the insurance profession
What do insurance professionals think about the ethics of their sector? A recent survey of over 3,000 members of ‘The[...]
Assessing integrity: how should insurers respond to the new rules?
Insurers in the UK will soon have to carry out ‘fit and proper’ assessments of executives performing certain key functions,[...]
How to get real value from ethical dilemmas
Many insurance firms have corporate values, promoted to staff and consumers to give insight into ‘who we are’ and ‘how[...]
How good are you at ethics? Are you sure? Is it enough?
Insurance is full of good people. Yet when you add up the cumulative impact of all those occasions when policies[...]
The three ingredients of ethical behaviour
Many firms in the insurance market will be looking to make progress on ethical behaviours in 2015. That’s great, but[...]
Who is responsible for rebuilding trust in insurance?
The public does not trust the insurance sector. Indeed, it trusts it even less than retail banks. That’s the stark[...]
What’s the point of ethics training? And 3 things to make it work.
Some of you will be starting to build your business plan for next year and if ethics falls within your[...]
The Five Most Dangerous Words in Business
You might think that the five most dangerous words in business would be associated with a corporate takeover  or a[...]
Wanted: a renewal of ethical leadership from the UK insurance sector
I believe one of the biggest challenges facing the UK insurance sector lies in the amount of ethical leadership that[...]
Leadership on Ethics – 6 steps for making real progress
Ethical leadership doesn’t just happen – you need to build knowledge and skills around it. Here are six steps to help you make real progress.
Ethical leadership requires more than just ‘tone from the top’
How can ethical leadership start to make a lasting difference in at firm? Here are three ingredients to making it happen, starting with tone from the middle.
Three warning signs that a firm is struggling with its ethical ‘tone from the top’
Delivering an ethical 'tone from the top' can be a challenge at times for some business leaders. So what are some warning signs to look out for?
A bit of ethics assessment can go a long way
Everyone in insurance should have access to ethics assessment tools. It empowers, motivates and engage staff on the ethical issues that matter most to them.
Insurance and Innovation – Part 2 – why ethics is a vital ingredient
If a firm's corporate culture doesn't emphasise the importance of ethical behaviours, then their capacity for innovation will be diminished. Here's why.
Ethics, Insurance and innovation – Part 1 – why change seems inevitable
With insurers under a lot of pressure to reform their claims operations, could the ethical culture at a firm contribute towards its capacity for innovation?
It’s good to talk – using ethical dilemmas as part of your training programme
Encouraging staff to talk about their firm’s values is one big gain from using ethical dilemmas in training, but there are other gains of much wider impact for the business.
Insurers need to understand young people more
Understanding more about how young people view privacy and identity will help insurers develop better and more trusted products.
How to set Ethical Objectives and Targets
Two recent studies have highlighted the need for firms in the financial services sector to start paying attention to ethical objectives. The benefits are clear: they help you deliver on innovation, integrity and customer focus.
6 places a claims manager should look for ethical risks
You're a claims manager tasked to 'do something on ethics in 2013'. So where do you start looking for ethical risks associated with how your people work?
A new source of news about ethics and insurance
I'm complementing my blog at ethicsandinsurance.info with regular, more 'news driven' updates on my LinkedIn company page. Here's how to receive these updates directly into your LinkedIn home page feed,
How insurance history could have been different if ethics had been measured
Four examples of how insurance history might have been different if ethics had been measured. Time now for your firm to adopt some?
How can you reward firms for ‘doing the right thing’?
I was one of the speakers at a round table discussion yesterday about rewarding firms for 'doing the right thing'. Here’s what I had to say.
Ethical Dilemmas – challenging, interesting, important
It may be tempting to ‘learn as you go’ when next faced with an ethical dilemma to resolve. Here are three reasons why some preparation is worthwhile.
Four metrics that give ethical insight into telematics
Motor underwriters will be avalanched with data as telematics takes off, so what should they look for to gain insight into the ethical issues thrown up by this controversial technology?
What is a discretionary obligation?!
Clarity of wording is essential in a contract for insurance or financial services. It’s a cornerstone to what is being[...]