Starr’s Product Oversight and Governance Arrangements
Starr is committed to ensuring its products offer value to customers both at the point of sale and throughout the product’s lifecycle.
Starr has established a product governance framework which ensures new products are subject to a product approval process and that existing products are regularly reviewed by a Conduct and Product Oversight Committee (CPOC). CPOC is authorised by Starr’s Board to ensure that the development, marketing, distribution and sale of products are appropriately approved and distributed in line with company strategy and to ensure that customers are receiving good outcomes at all stages of the customer journey.
When reviewing products, Starr may group similar products together where this does not detrimentally affect CPOC’s ability to review each product appropriately and asses whether the product is delivering fair value. ‘Similar products’ will be those products that are intended to deliver similar cover and outcomes for customers where the target markets are consistent.