Consumer Duty
FCA set to simplify fair value measure data reporting
The Financial Conduct Authority has proposed plans to reduce the reporting burden on firms surrounding the fair value measures data.
Autoglass warns insurers over risks of excluding windscreen cover
An increase in stripped-back motor insurance products entering the market over the last six months has prompted a warning that customers may not fully understand the financial consequences of choosing policies without glass cover.
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”.
Why trust will decide the next phase of AI in insurance
As AI adoption accelerates, Ben Rose, president and co-founder of Supercede, says insurers will favour trusted, resilient technology partners over the fastest-moving newcomers.
Mills Review means AI governance is now a boardroom issue
As insurers accelerate artificial intelligence adoption, Michael Sicsic, managing partner at Sicsic Advisory, argues success will depend not on moving fastest, but on balancing innovation with robust governance, accountability and continuous oversight of…
Ageas AI projects deliver 25-fold return on investment
Ageas chief data officer Chris Pearce has revealed the insurer’s 26 live artificial intelligence use cases are delivering an overall return of 20-to-25 times their cost.
Why claims has outgrown its job description
View from the Top: Billy Hinken, claims director at Pen Underwriting, argues that today's claims professional must be part technician, communicator, project manager and analyst.
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.
FCA pressed by Lords over regulating ChatGPT
The Financial Conduct Authority has been challenged by peers over whether artificial intelligence platforms such as ChatGPT should be brought within the regulator’s remit.
Insurers must govern AI as aggressively as they adopt it
Hakob Astabatsyan, co-founder and CEO of Synthflow AI, explains how addressing artificial intelligence-driven fraud requires a tailored response that combines technology, process and culture.
Don’t hold your breath for an FCA rulebook on AI
The UK insurance sector is waiting for a Financial Conduct Authority rulebook on AI that is never coming, warns Loka Venkatramana, senior consultant at compliance consultancy Pathlight Associates.
Pegasystems’ Pant warns cost could temper AI personalisation drive
Insurance will become more personalised and customer-focused through artificial intelligence, but progress could be impacted by the increasing cost of tokens, Pegasystems’ Manoj Pant has warned.
Why delegated oversight can no longer be housekeeping
Lloyd’s has embraced delegation at scale, but Richard Spencer, managing partner of New Link Consulting, argues governance and customer outcome monitoring have failed to keep pace.
Proactive AI can assist vulnerable customers, says IPI’s Farley
Personalised and proactive AI can help vulnerable customers while freeing up capacity, says IPI AI strategist Craig Farley, who believes insurers need to start linking their data systems together to help key individuals.
Big Interview: Jeremy Hyams, Claims Consortium Group
Claims Consortium founder Jeremy Hyams talks about his unconventional route into insurance, why he has returned as CEO, and how technology is set to transform the way claims are managed.
Captives consultation ‘a strong start’ by regulators
Dan Sammons, captives manager for HDI Global UK & Ireland, reacts to a consultation paper released by UK regulators on Tuesday (14 July), saying it is a strong start, but that the execution will decide its success.
Aggregator bosses plead for access to standardised claims data
The CEOs of Compare the Market, Money Supermarket and Confused have all pleaded with the government to help aggregators standardise claims performance data.
Regulators target four-week captive approvals
The Prudential Regulation Authority and the Financial Conduct Authority have launched a consultation on a new framework for captive insurance, eyeing a summer 2027 launch date.
FCA insists delegated authority review isn’t challenge to MGAs
The Financial Conduct Authority’s work around outsourced and delegated authority work is not to challenge the model, but more to gain an understanding of the way the sector works.
Petplan named insurer with the most satisfied customers
Petplan, Nationwide Insurance and Saga Insurance are the providers with the most satisfied customers, according to the latest survey conducted by the Institute of Customer Service.