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product 
approval
process

Delivering Products You Can Place with Confidence
 
At Covéa, every product we offer is carefully designed, monitored and reviewed to make sure it delivers real value to the people who use it.

From initial design through to launch and ongoing performance reviews, our process ensures products stay competitive, suitable for their target market, and aligned with regulatory requirements.
 
By combining insight from brokers, customers and our own teams, we make sure our products continue to meet evolving needs and uphold our commitment to fairness, quality and value.

 Product governance encompasses the whole of the product life cycle including:

  • the design and distribution of products; 

  • the launch processes; 

  • product delivery; 

  • the ongoing monitoring of product performance; 

  • fair value assessments; and 

  • the development of existing products; including the selection and/or enhancement of product features/benefits and responding to market changes and legal or regulatory developments.

 

All our core products are reviewed on an annual basis. The aim of the product review process is to make sure:
 

  • Products are in line with the market

  • Products remain competitive and are suitable for the target market

  • Products reflect all relevant regulations and legislations

  • Products are in line with the principles of Consumer Duty 

  • Products provide ‘value for money’ within the market they support, and 

  • Each part of the distribution chain providers value proportionate to the level of remuneration

 

The reviews incorporate feedback from the business, intermediaries and customers. This assists us in establishing who the product might be suitable for and the product’s performance.

Internal channels we use include:

  • Complaint feedback

  • Staff ideas/feedback

  • Management information

  • Company objectives

  • Product performance

  • System restrictions/limitations

  • Treating Customers Fairly (TCF)

External channels we use include:

  • Market analysis and trends

  • Competitor analysis

  • Regulation & legislation

  • Customer insight & feedback

  • Brokers feedback

  • External agencies

  • Complaint feedback (FOS)

product 
approval
process

Delivering Products You Can Place with Confidence
 
At Covéa, every product we offer is carefully designed, monitored and reviewed to make sure it delivers real value to the people who use it.

From initial design through to launch and ongoing performance reviews, our process ensures products stay competitive, suitable for their target market, and aligned with regulatory requirements.
 
By combining insight from brokers, customers and our own teams, we make sure our products continue to meet evolving needs and uphold our commitment to fairness, quality and value.

 Product governance encompasses the whole of the product life cycle including:

  • the design and distribution of products; 

  • the launch processes; 

  • product delivery; 

  • the ongoing monitoring of product performance; 

  • fair value assessments; and 

  • the development of existing products; including the selection and/or enhancement of product features/benefits and responding to market changes and legal or regulatory developments.

 

All our core products are reviewed on an annual basis. The aim of the product review process is to make sure:
 

  • Products are in line with the market

  • Products remain competitive and are suitable for the target market

  • Products reflect all relevant regulations and legislations

  • Products are in line with the principles of Consumer Duty 

  • Products provide ‘value for money’ within the market they support, and 

  • Each part of the distribution chain providers value proportionate to the level of remuneration

 

The reviews incorporate feedback from the business, intermediaries and customers. This assists us in establishing who the product might be suitable for and the product’s performance.

Internal channels we use include:

  • Complaint feedback

  • Staff ideas/feedback

  • Management information

  • Company objectives

  • Product performance

  • System restrictions/limitations

  • Treating Customers Fairly (TCF)

External channels we use include:

  • Market analysis and trends

  • Competitor analysis

  • Regulation & legislation

  • Customer insight & feedback

  • Brokers feedback

  • External agencies

  • Complaint feedback (FOS)

 The table below shows the lifecycle of a product review:

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