The British Insurance Brokers' Association (BIBA) has welcomed the UK Government's new Financial Inclusion Strategy, which introduced a "total signposting" initiative aimed at improving access to insurance for underserved consumers.
The strategy outlines the Government's broader approach to enhancing financial inclusion across the UK and follows extensive collaboration with consumer groups and the insurance industry, including BIBA.
Under the initiative, BIBA will work with the Association of British Insurers (ABI) to develop a voluntary total signposting commitment designed to help consumers navigate the market and find appropriate cover. The scheme builds on existing signposting agreements for age, flood risk, medical conditions, and protection insurance.
Unlike previous initiatives targeting specific risks, total signposting will apply to all classes of retail insurance, ensuring that customers are directed to suitable providers or services when they encounter barriers to obtaining cover.
Supporting non-standard and underserved customers
BIBA chief executive Graeme Trudgill described the Government’s announcement as a significant milestone for improving access to insurance. He noted that the association remains fully committed to helping consumers who are unable to obtain cover due to non-standard needs by ensuring they are signposted to relevant firms or recognised services such as the BIBA Find Insurance Service. The objective, he said, is to make the search for insurance as straightforward and successful as possible.
Achieving total signposting has been a longstanding BIBA Manifesto goal, reflecting years of collaboration with government, regulators, charities, and consumer advocates. Since its creation in 2020, BIBA’s Access to Insurance Committee (ATIC), chaired by Caroline Barr, has led efforts to strengthen market access and manage existing signposting agreements.
The Government’s strategy also highlights a new pilot by Fair4All Finance aimed at improving insurance access for social renters, an initiative BIBA has supported alongside specialist members. Barr said BIBA was proud to have contributed to the development of the Financial Inclusion Strategy and reaffirmed the association’s commitment to delivering total signposting and working with the ABI to expand consumer access to specialist insurance solutions.
Impact on the insurance industry
For the insurance industry, the introduction of total signposting represents both an opportunity and a challenge. By establishing a formal framework for directing consumers toward suitable providers, the initiative could broaden market access for brokers and insurers specialising in complex or high-risk clients. It may also enhance visibility for niche sectors such as medical travel, high-flood-risk property, and non-standard motor insurance.
At the same time, the initiative reinforces regulatory expectations around fairness and transparency, aligning with the Financial Conduct Authority’s Consumer Duty requirements. Insurers and intermediaries will need to ensure that customers are not excluded by design or default, and that clear routes exist to help them access alternative solutions.
Market analysts suggested that total signposting could strengthen the role of brokers as intermediaries who help consumers navigate a fragmented market, while also demonstrating the industry’s broader commitment to inclusion and accountability.
