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Ethical Culture

Ethical culture can be summed up as 'how things get done round here'. So while there can be all sorts of formal guidelines, at the end of the day, it is in the behaviours of the people, and what motivates them and why, that gives your firm the culture it has, as opposed to the culture it needs.
47 posts
Ethical Culture
Forced Transparency – the Challenge facing Insurers public
Data Ethics • 3 min read

Forced Transparency – the Challenge facing Insurers

2024 will see several challenges that the insurance sector is facing come to a head. Out of this will emerge a period of forced transparency, in which certain working practices are opened up to scrutiny. How insurers prepare for this is crucial for customers, investors and regulators.…
Duncan Minty
Duncan Minty •
The FCA Undermines Its Own Whistleblowing public
Ethical Culture • 2 min read

The FCA Undermines Its Own Whistleblowing

A recent article in the Times reported unlawful practices at the FCA around email diversion and the handling of people ‘considered a nuisance’. Particularly concerning was the impact of these events on whistleblowers. So what does this signal to the wider insurance community?…
Duncan Minty
Duncan Minty •
Why Contagious Misconduct Can Collapse Firms public
Ethical Culture • 2 min read

Why Contagious Misconduct Can Collapse Firms

We often think of misconduct in terms of the individual. Yet we also know that such cases often have a ripple effect, signalling to others that they could act likewise. This creates a slippery slope to more serious cases of misconduct. So how might contagious misconduct be controlled?…
Duncan Minty
Duncan Minty •
How Innovation and Inclusion in Insurance Can Work Together public
Fairness • 4 min read

How Innovation and Inclusion in Insurance Can Work Together

In recent months, I’ve been working as guest editor for the latest edition of the Institute and Faculty of Actuaries’ Inclusive Insurance Bulletin. It drew together articles that explored innovation from a number of different perspectives, but all oriented around tackling inclusion in insurance.…
Duncan Minty
Duncan Minty •
Claims – Nine Ethical Red Flags that Need Attention public
Claims • 8 min read

Claims – Nine Ethical Red Flags that Need Attention

For the last 5 years, I’ve viewed claims as the function that is generating the most ethical risk for a typical UK insurer. It has not been in the limelight, but it has been using decision systems in ways that raise significant questions. Here are nine practices that are red flags.…
Duncan Minty
Duncan Minty •
These claims practices are indefensible public
Claims • 6 min read

These claims practices are indefensible

The FCA has warned insurers not to undervalue total loss settlements, with a particular emphasis put on motor claims. And their warning makes specific mention of not incentivising staff to engage in potentially harmful claims settlement practices. I analyse the implications for claims people.…
Duncan Minty
Duncan Minty •
Whistleblowing - the Tip of a Data Iceberg public
Regulation • 4 min read

Whistleblowing - the Tip of a Data Iceberg

The UK regulator is now publishing data about the allegations being reported to its whistleblowing team. So what does it tell us (and not tell us) about the state of whistleblowing in UK financial services? And what trends should you be looking out for? I explore the numbers here.…
Duncan Minty
Duncan Minty •
Pay Attention to Undue Pressure public
Leadership on Ethics • 2 min read

Pay Attention to Undue Pressure

How a person responds to the ethics of a situation will be influenced by several things. Character is one, plus the skills and knowledge they’ve learnt. Yet what can sometimes render all these ineffective is something firmly in the hands of the firm’s leadership. It’s undue pressure.…
Duncan Minty
Duncan Minty •
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