In this post we’ll explore some of the key trends that could define the insurance market from 2024. As well as some key opportunities for growth, we’ll also discuss some of the major challenges that the next year could pose to insurers and insurance brokers. Further Advancements in AI Artificial intelligence (AI) has given the…
As regulated businesses, insurers and insurance brokers must meet certain anti-money laundering (AML) commitments. In this post we’ll take a look at the sort of AML trends that might impact regulated businesses like yours. Artificial Intelligence in Anti-Money Laundering Processes – New Opportunities and Threats Artificial intelligence (AI) is quickly transforming the way we live…
The Financial Conduct Authority (FCA) is one of the major bodies responsible for regulating insurers and other financial agencies and has published rules on Consumer Duty. They set regulations that anyone who wants to sell, arrange, or advise on certain financial products must meet. What is the FCA Consumer Duty? The FCA’s Consumer Duty is…
Specialist research firm FinTech Global has unveiled its sixth annual edition of its prestigious InsurTech100 list naming Tapoly. The ranking celebrates the groundbreaking tech companies that are developing solutions to the insurance industry’s most daunting challenges. Over the last couple of years, insurance firms have faced an uphill battle to rapidly digitise their services and…
The Financial Conduct Authority (FCA) is one of two major bodies that regulates insurers and the wider financial sector. They establish and enforce stringent regulations that anyone who wants to sell, arrange, or advise on insurance must meet. Part of these regulations are a set of threshold conditions. In this post we’ll explain what the…
The Financial Conduct Authority (FCA) is one of several organisations that regulate the insurance industry. You need to apply for FCA approval if you want to offer any kind of regulated insurance services in the UK. As part of their supervision, the FCA imposes a Code of Conduct on all the financial firms it regulates….
The Financial Conduct Authority (FCA) is one of a few bodies that regulates financial service firms and financial markets in the UK. If you want to provide any sort of regulated financial services in the UK, then you need to get approval from the FCA. But FCA authorisation does not last indefinitely. So in this…
In recent years, the Financial Conduct Authority (FCA) has been working towards an agenda they refer to as “conduct risk”. Customers trust insurers to provide a service that offers maximum value at the best possible price. Conduct risk is a measure of how effectively insurers meet this brief. In short, conduct risk is a question…
The Financial Conduct Authority (FCA) regulates financial service firms and financial markets in the UK, including insurers and insurance brokers. What Does the FCA Do? The FCA sets stringent regulations concerning how financial service firms operate. Firms and individuals must demonstrate how they meet these regulations before the FCA will authorise them. And after the…
If you want to set up your own insurance company, then you need approval from the Financial Conduct Authority (FCA). This post is an essential guide to registering with the FCA to become an FCA approved insurer. Just bear in mind that we’re only covering the basics here. We won’t go into detail about the…