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Regulation

Is regulation keeping up with the changes happening in the insurance market? Will an arsenal of SupTech tools soon put regulators inside your digital models? How will regulators handle the complexity of fairness, and the urgent calls to counter discrimination? There's a lot happening - read on!
90 posts
Regulation
Can Insurers Overturn the ‘Right to be Forgotten’? public
Regulation • 3 min read

Can Insurers Overturn the ‘Right to be Forgotten’?

Insurers in Europe are challenging the EU’s proposals for people who survive cancer to have a ‘right to be forgotten’. At the heart of this dispute are two issues for insurers – the fairness of their underwriting, and the scope of their ‘right to know’. It’s part of a wider data ethics situation.…
Duncan Minty
Duncan Minty •
More Regulatory Scrutiny of Pricing Practices public
Underwriting • 9 min read

More Regulatory Scrutiny of Pricing Practices

EIOPA is about to close a consultation on non-life differential pricing. While we wait for the results, it’s worth examining how the consultation is framed and what that might mean for UK insurers. Will the FCA use it for a ‘Pricing Review Two’? There’s certain unresolved issues to be addressed.…
Duncan Minty
Duncan Minty •
Whistleblowing - the Tip of a Data Iceberg public
Regulation • 4 min read

Whistleblowing - the Tip of a Data Iceberg

The UK regulator is now publishing data about the allegations being reported to its whistleblowing team. So what does it tell us (and not tell us) about the state of whistleblowing in UK financial services? And what trends should you be looking out for? I explore the numbers here.…
Duncan Minty
Duncan Minty •
Asking the Wrong Question - EIOPA and High Risk AI public
Data Ethics • 5 min read

Asking the Wrong Question - EIOPA and High Risk AI

A tussle is emerging around whether the artificial intelligence systems used by insurers should be classified as high risk or not. It’s an EU thing, but of clear relevance to non-EU insurers too. The implications of a high risk designation are huge, so insurers need to track these developments.…
Duncan Minty
Duncan Minty •
An Important Development on Financial Inclusion public
Regulation • 3 min read

An Important Development on Financial Inclusion

The need for insurers to take a more formalised approach to financial inclusion has moved a step closer. If the regulator is to ‘have a regard’ for financial inclusion, with data and reports, then it will expect insurers to do the same. It’s a stone that will gather moss.…
Duncan Minty
Duncan Minty •
Underwriting • 2 min read

Is the FCA a Price Regulator?

Is price in UK insurance markets regulated? There’s a game of words going on at the moment. The regulator told the sector last week that it’s not a price regulator. How should the sector react to that? Will they be convinced?…
Duncan Minty
Duncan Minty •
Are Regulators Sitting on an Algorithmic Fence? public
Data Ethics • 3 min read

Are Regulators Sitting on an Algorithmic Fence?

A key question for insurers over the next 5 years will be how regulators handle the issues raised by their increasing use of algorithms. The message being signalled in a recent paper by the Digital Regulation Cooperation Forum is clear. And the position they’re taking will be an uncomfortable one.…
Duncan Minty
Duncan Minty •
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