Some additional information
Challenges
In order to improve the value for money that customers receive, we set specific challenges to address areas that could be improved. Below is an update on the challenges we set ReAssure for 2024:
- Partially Met:We challenged ReAssure to take action to improve the effectiveness of the current approach to make customers aware of lower charging funds available. ReAssure have conducted customer research and updated their communications. We appreciate this work but believe further action is required to improve value for money for customers paying over 0.75% per year.
Challenges set for 2025:
- ReAssure Ltd to improve the value for money of customers paying more than 0.75% per year in ongoing charges (without receiving any additional, valuable benefits).
- ReAssure Life to improve the effectiveness of the current approach to make customers aware of the lower charging funds that are available to them.