Acting in our customers’ best interests is at the heart of what we do. At Starr, we have implemented systems and controls to ensure we effectively manage our conduct risk exposure and deliver fair outcomes for customers at every stage of the customer journey, from product development to claims.
To support the delivery of fair customer outcomes, Starr UK is committed to implementing the following Customer Values:
Embedding a culture of ‘doing the right thing’
- Our culture is underpinned by the following values; Integrity, Dedication, Innovation, Successful, Efficient and Ambitious.
- Our colleagues adhere to a Behavioural Standards Framework which provides support and guidance on what good and excellent behaviour looks like along with examples of what is not deemed acceptable behaviour.
Ensuring our products meet the needs of the identified target market and deliver fair value
- Our core purpose is to deliver innovative and value-added solutions to customers in a responsible manner.
- Our products are subject to a robust product approval process to ensure they are designed with the customers’ best interests in mind both at inception and throughout the product life cycle.
- Our products are subject to regular monitoring and oversight across all distribution channels to identify they continue to meet customer needs and deliver fair value.
Ensuring our third parties understand and operate in accordance with our values and service standards
- We undertake thorough due diligence on the third parties we collaborate with. This includes operating an onboarding process to ensure the third party can deliver in accordance with our values and service standards.
- We agree performance service standards and KPI’s with our third parties and monitor these regularly.
Ensuring our customers do not face unreasonable post-sale barriers
- Achieving excellence in claims handling is at the very heart of our business. Our COO assumes Board level responsibility for delivery of effective claims management and our Board is fully committed to ensuring claims are handled consistently and fairly, in a manner that is transparent, accurate and timely and which meets or exceeds all Lloyd’s Claims standards.
- We welcome all feedback from our customers. If our standards or the standards of our third party fall below expectations, we operate a transparent and easy to follow complaints process.