Empowering insights and initiatives and what is your wish for 2024?
An event never to be missed, The Women in Protection Network quarterly meeting took place on Thursday at the fabulous new Royal London offices on Fenchurch Street, exceptional views over London and a real treat for the women that could be there in person.
As always, Emma Thomson and the team delve into pivotal issues pertinent to women within the financial protection industry.
Karen Basnett, Marketing Director at New Homes Mortgage Services, gave a fabulous presentation to bring to light the success of her company’s diversity and inclusion initiative. Underlining its positive outcomes, she emphasised how the program has catalysed heightened innovation, expanded market appeal, augmented employee satisfaction, bolstered problem-solving capabilities, and attracted top-tier talent.
Furthermore, Karen shed light on the impactful Women’s Network within her organisation—a dedicated forum enabling female employees to engage in candid discussions surrounding topics like career progression and work-life balance. New Homes Mortgage Services has set explicit targets for augmenting female representation across its workforce. I was extremely impressed with the initiatives that New Homes Mortgage Services have taken and I would certainly recommend reaching out to Karen too understand how some of these initiatives could be adopted elsewhere within organisations.
The meeting also featured an enlightening presentation on crafting successful award entries. Emma Thomson talked through a systematic approach comprising of six steps, including an understanding of criteria, robust evidence provision, writing a compelling narrative, and maintaining conciseness and clarity in writing. Emphasizing the significance of personal recognition and its role in boosting team morale, Emma also shared insights into leveraging testimonials and identifying optimal sources for them.
Adding an additional layer of expertise, Gregor Sked from Royal London delivered a comprehensive presentation on the confidence gap in financial decision-making. His research encompassed financial planning considerations for childcare, caregivers in later life, and divorce, as well as the nuanced impact of menopause on women in the workplace. Advocating for heightened financial education to bridge the confidence gap, Gregor highlighted the importance of income protection and family income benefits in scenarios such as caregiving and divorce. Additionally, he proposed policies to support women navigating menopause, ranging from flexible working arrangements to enhanced sick leave, access to virtual general practitioners and mental health counselling, and the implementation of workplace menopause policies. A thought-provoking presentation, and very much highlighted the need for visibility and exposure of the value-added benefits that protection policies can provide.
A really insightful report from Model Office Ltd – Cost of Compliance Benchmark Report has just been released from Chris Davies
Key findings include:
- The biggest challenges over the next 12 months are the Consumer Duty validation, lack of budget and resources, the volume and implementation of regulatory change
- AI can ensure firms gain real time compliance support and add significant capital value
- Only 1 in 4 firms have prepared for the Consumer Duty Annual Reporting requirements (Now only 6 months away)
- ProtectionGuruPro is highlighted as an integral solution for wealth advisers
Just over a week until Protection Guru’s last forum of the year. Register for your place here: Protection Forum – Your wishes for 2024
How did we do in 2023 and what is your wish for 2024?
Advisers to discuss the good and bad of the last 12 months and their wishes for the new year…
Insurers to discuss what the year ahead may have in store…
Christmas jumpers, hats and definitely Christmas cheer welcomed.