As a leading provider of funeral services, Dignity is committed to improving standards in the funeral sector and was increasingly concerned at the level of consumer detriment in the market. Funeral plans play an important role in helping consumers with funeral costs, but there is no statutory regulation of the market and significant variation in standards.
WA worked with Dignity to highlight the potential consequences for consumers and build support among policymakers for stronger regulation with improved consumer outcomes.
WA worked with Dignity to launch a major piece of research published in partnership with the consumer group Fairer Finance. Achieving coverage in national and trade media, across print, broadcast and online, we successfully highlighted the current market landscape and its potential detriment for consumers.
We worked with Dignity to use support for stronger regulation amongst parliamentarians, industry and consumer groups to place pressure on HM Treasury to review the regulatory framework and take action to protect consumers.
To keep up momentum we supported the development and launch of a white paper which proposed a blueprint for an improved regulatory regime. We supported Dignity in responding to two substantial consultations to define the future approach.
In June 2019 HM Treasury announced that they were intending to introduce statutory regulation of pre-paid funeral plans, with the Financial Conduct Authority (FCA) having oversight of the sector. This will remove the regulation gap in the sector and improve outcomes for consumers.