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.

Starr has defined the good customer outcomes it aims to deliver to Retail Customers. These outcomes are mapped to the four customer outcomes which form part of the FCA’s Consumer Duty:

• Products (co)manufactured by Starr are designed and continue to meet the needs, characteristics and objectives of the identified target.
• Products (co)manufactured by Starr continue to meet the needs of customers throughout the lifetime of the policy.
• Products (co)manufactured by Starr are distributed to the identified target market. Products
• Products (co)manufactured by Starr do not cause foreseeable harm to customers in the target market.
  
  

Starr’s Price and Value Outcomes

• Products (co)manufactured by Starr deliver fair value for the intended target market.
• Products (co)manufactured by Starr do not include unreasonable charges or high fees imposed on customers.
• Pricing structures do not lead to foreseeable harm.
  
  

Starr’s Customer Understanding Outcomes

• Products (co)manufactured by Starr have clear and unambiguous product wording to enable distributors and the intended target market to understand the product.
• Policy conditions and exclusions are clearly signposted in all relevant product documentation.
• All product documentation issued to retail customers is clear, fair and not misleading.
  
  

Starr’s Customer Support Outcomes

• Starr and its third parties provide customer support which meets the needs of its customers, including those with vulnerability.
• Starr and its third parties provide timely support for customers.
• Starr claims are settled fairly and in a timely manner.
• Starr and its third parties ensure there are no barriers to making a claim or complaint.
• Starr and its third parties investigate complaints fairly and in a timely manner.

To view details of Starr’s Product Oversight and Governance Arrangements including its product fair value assessments, please click here.