The Sri Lanka Insurance Institute (SLII) is collaborating with two partners to introduce the concept of Treating Customers Fairly (TCF), which is more recently referred to as "conduct risk", to the insurance industry of Sri Lanka.
The main aim of the training programme is for senior employees to have an appreciation of the concept of conduct risk, to develop a comprehensive understanding of the principles of fair treatment, and to produce a plan to transfer the learning to their organisation.
The industry-wide programme kicked off to a good start with insurance industry giant Ceylinco Life Insurance successfully completing the TCF awareness training programme for senior management of the company.
This pioneering training programme is in keeping with global industry practices which has seen an increase in regulations directed at the financial services sector.
SLII's partners in the training programme are TCF Consulting (UK) and Global Business Counselling (GBC). They collaborated with the SLII to design a bespoke TCF Awareness Programme to be delivered to senior management of top tier organisations in the financial services sector in Sri Lanka.