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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!
88 posts
Regulation
Insurers to be Banned from Electronic Health Data in the EU public
Data Ethics • 3 min read

Insurers to be Banned from Electronic Health Data in the EU

The EU has this week issued a proposal for the regulation of electronic health data. It’s implications for insurance are stark. As it stands, the proposal will ban the secondary use of electronic health data for insurance purposes. It’s early days, but insurers have a digital mountain to climb.…
Duncan Minty
Duncan Minty •
Data Ethics • 2 min read

Regulators issue Two Important Papers on Algorithms

The UK’s Digital Regulation Cooperation Forum has just issued two ‘call for input’ papers that insurers should pay attention to. These point to some joint regulatory initiatives ahead. One paper is on the benefits and harms of algorithms, and the other on auditing algorithms.…
Duncan Minty
Duncan Minty •
What the FCA Strategy Tells Us about What Lies Ahead public
Regulation • 7 min read

What the FCA Strategy Tells Us about What Lies Ahead

The FCA has been talking boldly in recent years about its journey to become a data driven regulator. And their strategy and business plan published last week set out how they intend to do this. So how bold is it, and what are the implications, from an ethical perspective, for insurers?…
Duncan Minty
Duncan Minty •
Data Ethics • 3 min read

Algorithm Destruction – the Implications for Insurers

A regulatory trend is emerging that could have profound implications for insurers. We’ve seen regulators issue fines for obtaining and using data in ways that fall outside of the rules. Now something much, much more ominous is starting to be used by regulators. It’s called algorithm destruction.…
Duncan Minty
Duncan Minty •
Underwriting • 3 min read

FCA questioned on Financial Inclusion

The UK regulator shared its thinking on financial inclusion with Parliament’s Treasury Committee recently. It was clear that they recognised the issue, but also that they didn’t understand, in terms of insurance, what was behind it.…
Duncan Minty
Duncan Minty •
Could Financial Inclusion be at a Turning Point? public
Regulation • 9 min read

Could Financial Inclusion be at a Turning Point?

Pressure is being put on the UK Government to raise the attention that the regulator gives to financial inclusion. Not many of you will realise that, at the moment, such attention is pretty discretionary. Will this pressure succeed? And if it does, what repercussions could this have for insurers?…
Duncan Minty
Duncan Minty •
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