Global Citizenship, KPMG in the UK
Financial institutions are increasingly subject to public scrutiny, with greater expectations of good governance since the global financial crisis. Against a backdrop of diminished trust in ‘big business’, and financial services in particular, there is a clear opportunity to enhance transparency and communication. Trust is shifting from being earned through customer engagement to being dispensed through social media, and the penalty for breaching trust is immediate and severe, with companies potentially being ‘defriended’ for life. Successfully building trust will create value, especially as intangibles are increasingly recognized on corporate balance sheets.
Key business issues that insurers must consider:
- Good governance and responsibility is of mounting importance
- Trust in financial services is among the lowest of any industry
To stimulate the debate on these complex and far-reaching issues, we invite you to join the conversation
We want to hear your views
- Do you see insurers taking a more proactive role in leveraging the corporate responsibility agenda to better compete for top talent?
- How do you see the evolution of social networks helping to build trust in financial services and to better engage with customers and other stakeholders?