JL Insurance Solutions Ltd has today published its annual Consumer Duty compliance statement in line with Financial Conduct Authority (FCA) requirements. The statement outlines the group's ongoing commitment to delivering fair value, clear communication, and positive customer outcomes across all products and services offered through its Limitless Cover consumer brand.
The FCA's Consumer Duty, which came into full effect in July 2023, requires all regulated firms to act in the best interests of retail customers and to deliver good outcomes in four key areas: products and services, price and value, consumer understanding, and consumer support. JL Insurance Solutions Ltd has embedded these principles across its operations since the regulation was first announced.
As part of its 2025 compliance update, the group has confirmed several key actions taken during the previous twelve months. These include a comprehensive review of all product pricing to ensure ongoing fair value, the introduction of clearer policy documentation written in plain English, enhanced training programmes for customer-facing colleagues, and the launch of a new internal governance framework to monitor customer outcomes on a quarterly basis.
Director Jessica Llewelyn said: "Consumer Duty is not just a regulatory requirement for us. It is central to how we run our business. We continually review our products, pricing, and customer journeys to ensure they meet the highest standards. Our customers deserve transparency, fairness, and clear communication at every touchpoint, and that is exactly what we are committed to delivering."
The group also confirmed that its Net Promoter Score (NPS) increased to 72 during 2024, up from 65 in the previous year, indicating strong and improving levels of customer satisfaction. Additionally, 97% of customers renewed their policies at the end of their term, one of the highest renewal rates in the UK digital motor insurance market.
JL Insurance Solutions Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under Firm Reference Number (FRN) 841565. The full compliance statement is available on request by contacting info@jlinsurancesolutions.co.uk.
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