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Industry defends data collection practices in light of CMA report

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Insurers have defended their data collection processes following the publication of a critical Competition and Markets Authority report and calls from a consumer champion for greater transparency around how telematics data is used.

The report, published on 17 June, follows a January call for information by the CMA and was commissioned by Dot Econ and Analysys Mason. It focused specifically on the motor insurance, clothing

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Hidden risks in insurers’ culture and misconduct data

Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.

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