REPUTATION Ben Wilson, Director of Corporate Affairs and Climate Change, outlines how we have been blazing a trail with our cross-industry campaign work to drive reputation, and the work we have been delivering to tackle some of the biggest challenges facing customers today in the cost-of-living crisis. How is the ABI working to develop a more positive and proactive narrative for the sector through the new crossindustry campaign, #SecuringFutures? We want to help politicians, stakeholders and decision-makers gain a deeper understanding of what we do as a sector and the significant potential we have to support communities and strengthen the economy. We can do this through our unique position in holding invested assets of more than 1.6 trillion, as employers in supporting more than 350,000 jobs throughout the UK, and at an individual level by providing a safety net to consumers and helping them make more informed decisions. The campaign has been developed to provide a platform from which the sector can tell a more confident story about our role and contribution to society. It aims to demonstrate to politicians, policy-makers and key stakeholders how our sector works to support society and the economy; it highlights how whether preparing for the future, investing for the future, innovating for the future, or securing for it our industry provides customers with confidence and care. As our members will be aware, the insurance sector suffers from certain reputational issues that have only worsened since the pandemic. Research by the FCA published in 2021, found that 22% of adults (one fifth) trust insurance companies less because of the Covid-19 pandemic, as opposed to 11% who trust insurance companies more. Fundamentally, we want to overturn some of the more persistent ways of thinking about the insurance sector and plug what we perceive to be a knowledge gap. For example, there is a misconception about insurance companies not paying up. However, the fact is that, as a sector, we pay out 99% of home and motor claims. We wanted to learn lessons from the pandemic, in terms of how we discuss potential future crises with stakeholders ahead of time. Its about being on the front foot and having those difficult conversations well in advance How will the ABI work to bring this narrative to life, with and on behalf of members? The first phase of activity launched in November and is running until February next year, culminating with our Annual Conference, which is a key milestone to celebrate what we are collectively achieving as an industry. Our first phase of activity is focused primarily on parliamentarians, policy-makers and third-sector groups, but we will be expanding and developing the campaign over time. To reach our key stakeholders at launch, we ran a series of adverts in Westminster underground station and hosted a parliamentary reception to help articulate the vision behind the campaign, attended by MPs, Peers and members, with speeches from Chair of the Insurance and Financial Services APPG and Vice-Chairman of the Conservative Party Craig Tracey MP, and Shadow Financial Secretary Tulip Siddiq MP, alongside the ABIs Hannah Gurga. Bringing the campaign to life requires cross-industry support and we warmly welcome contributions from our members of real-life customer experiences that back up the data and help outline to parliamentarians the vital work we do to support their constituents. This might be in sharing how the industry kicks into gear to support customers in extreme weather and other emergencies, or how members work to bolster the financial resilience of small businesses through trade credit insurance. We also hope that members will adopt the campaign in their own external messaging, on digital channels and with stakeholders, to help reinforce the broader narrative and enable us to speak with one voice as an industry. How can the UKs insurance and long-term savings sector help the UK succeed in an uncertain world? To better articulate the insurance industrys macro-economic contribution, we have collaborated with the strategic advisory consultancy Global Counsel to produce the Securing our Future report. This report considers how well the insurance industry is adapting to complex economic and social risks. It highlights several mega risks, such as climate change and cyber attacks, which threaten to strain conventional modes of policy-making and insurance practice. We wanted to learn lessons from the pandemic, in terms of how we discuss potential future crises with stakeholders ahead of time. Its about being on the front foot and having those difficult conversations well in advance. The report is very constructive and sets out an integral role for the insurance sector in tackling some of these challenges. For example, we can leverage our expertise with risk and participate in large-scale partnerships such as Flood Re to effectively minimise the impact for customers and society. There is great potential for our industry to work with government on these issues, and we are keen to collaborate to tackle the crisis in social care. How can the sector foster greater financial resilience and support customers through the cost-of-living crisis? If the Securing Our Future report makes the case for how we can contribute to a more secure, more prosperous economy, the report we created with the AllParty Parliamentary Group (APPG) on Financial Resilience is more focused on what we can do for consumers. This report analyses the financial response of people in Britain during the pandemic, and highlights the fact that sudden crises can put individuals finances under severe pressure. There are eight recommendations in the report, which emphasise encouraging customers to think carefully about their financial resilience and to help them take a more holistic, long-term view. Its really one piece of a wider effort by the industry to respond to the cost-ofliving crisis, and to support customers as much as we can. Weve developed the Every Pound Counts hub for our members, which sets out how they can better support customers, and have produced a contents insurance guide to help social housing landlords give better advice to tenants. In the past there has been a focus on how to lift people out of difficult financial situations, but little has been done to understand why people end up there. What this report does is uncovers just how close large groups of the population are to experiencing a crisis in their personal finances. Shaun Bailey MP, Co-Chair of the APPG on Financial Resilience What do we hope to achieve on behalf of members with these campaigns? These campaigns represent a step change in how we communicate externally. Were being bolder and more proactive in terms of our messaging, and we hope this will benefit our members by addressing some of the long-standing reputational issues the sector faces. We know we cant solve all the problems overnight, but we want to position the sector as a constructive and fruitful partner in the important discussions to come. We would welcome your stories on how your organisation has made a material difference to customers and society. If you would like to support our activity by sharing case studies on your firms work, please contact Ellie Thomson, Marketing Manager, ABI. Craig Tracey MP, Chair of the Insurance and Financial Services APPG and Vice-Chairman of the Conservative Party It was a pleasure to host the launch of the ABIs #SecuringFutures campaign in the House of Commons. It is always great to work with the ABI as I know how important the insurance and long-term savings industry is to us all. Tulip Siddiq MP, Shadow Minister (Treasury) I want to thank the Association of British Insurers for inviting me to speak at the launch of their #SecuringFutures campaign. I was grateful for the opportunity to set out my partys plans for securing the future of the worlds leading insurance and long-term savings industry. Duncan Baker MP It was a pleasure to attend the ABIs Parliamentary Reception and to meet once more their Director General, Hannah Gurga. It was great to learn about their campaign #SecuringFutures and to shine a spotlight on their industry. Mark Fletcher MP I was delighted to attend the ABIs launch event of its #SecuringFutures campaign at Westminster. The insurance and long-term savings industry has a huge role to play in supporting communities across the UK and I look forward to working closely with the industry in 2023 to deliver on behalf of my constituency.