Top five Asian news stories
The top five Asian news stories on www.insuranceinsight.com over the past seven days.
Aspen Re enhances risk management in China
Aspen Reinsurance has licensed Air Worldwide's multiple peril crop insurance model for China to enhance its risk management capabilities in catastrophe
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More on Regulation
ABI urges insurers to strengthen support for abuse victims
The Association of British Insurers has produced two guides to help customers and colleagues experiencing economic abuse, setting out steps to support those affected.
FCA continues to scrutinise premium finance APR outliers
Chris Knight, the Financial Conduct Authority’s new director of insurance, has revealed he wants to see premium finance annual percentage rates fall further.
Time:To – MGAA’s Keating on how to stay on top of governance
The importance of data to keep tabs on delegated authority to satisfy the regulator is stressed by Michael Keating, CEO of the Managing General Agents’ Association, in the latest Insurance Post Time:To video.
Big Interview: Matt Brewis, KPMG
In his first interview since leaving the Financial Conduct Authority, Matt Brewis reflects on his time at the regulator, his new role at KPMG, and discusses the major sticking points between regulation and industry.
Brewis on regrets the FCA didn't go further on fair value
Former Financial Conduct Authority head of insurance Matt Brewis has said he wishes the regulator had gone “further along the journey of fixing fair value assessments”.
Data quality is one of the biggest barriers to success with AI
Helen Richardson, senior product manager for the UK and Ireland at LexisNexis Risk Solutions, points out before the artificial intelligence revolution can happen, insurance providers need to get their data house in order.
Verisk’s Sawford argues explainable AI is insurance’s future
The next phase of artificial intelligence adoption in insurance will be defined by firms' ability to explain, validate and stand behind every AI-assisted decision, according to Chris Sawford, managing director of Verisk General Insurance UK & Ireland.
FOS believes it is still 'too soon' to judge Consumer Duty impact
It is too early to determine whether the Consumer Duty has reduced complaints about home and travel insurance, the Financial Ombudsman Service has told peers.