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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
What the FCA’s Problems Bode for Insurers public
Regulation • 5 min read

What the FCA’s Problems Bode for Insurers

An all-party group of MPs within the UK Parliament has issued a damning report on the FCA. It has certainly stirred up debate around the conclusions it reached. I think it will have a lasting impact, but not in the way commentators are thinking. For insurers, the consequences could be serious.…
Duncan Minty
Duncan Minty •
The Problem with Most Responsible AI Initiatives public
Data Ethics • 8 min read

The Problem with Most Responsible AI Initiatives

Every month sees guidance and standards issued about ‘Responsible AI’. Lift a few lids though and it becomes apparent that much of this output is one-sided. To properly address the issues associated with AI, insurers need to look beyond the technical. New research shows us how to get started.…
Duncan Minty
Duncan Minty •
How Rules Reflect the Ethical Concerns of Consumers public
Regulation • 5 min read

How Rules Reflect the Ethical Concerns of Consumers

It’s common to hear people in the insurance sector talk about ‘rules, rules and more rules’. The EU AI Act is a typical development that can drive this sentiment. And rules they may be, but they are also more than that. Ethics allows you to recognise and unpick their different layers of meaning.…
Duncan Minty
Duncan Minty •
More Political Scrutiny of Insurance Pricing public
Underwriting • 3 min read

More Political Scrutiny of Insurance Pricing

The Treasury Committee’s session yesterday on insurance saw consumer groups, insurers and the regulator have their say on pricing in motor and home markets. Nothing revealing emerged, but what was clear was that pressure on the sector to be more transparent is about to rise again.…
Duncan Minty
Duncan Minty •
Are Insurers Ready for GDPR 2.0? public
Privacy • 6 min read

Are Insurers Ready for GDPR 2.0?

The GDPR felt pretty seismic when it came into force in 2018, but like many a step change in the law, it contained compromises. All things digital have moved on a lot since. As a result, the prospect of some form of GDPR 2.0 is on the horizon. So what does this mean for insurers?…
Duncan Minty
Duncan Minty •
A Significant Development on Bias in US Insurance public
Discrimination • 4 min read

A Significant Development on Bias in US Insurance

Many in the sector are focussing on the ethics of AI decision systems. It’s important but an equally immediate issue is insurers’ use of secondary data. A recent legislative move in the US illustrates this. There are deep currents at play here. I unpick the layers and look at the implications.…
Duncan Minty
Duncan Minty •
Hardening Attitudes to Insurance Lobbying public
Regulation • 3 min read

Hardening Attitudes to Insurance Lobbying

Insurers invest a lot of money in trade bodies. Their role is to formulate sector level policy and lobby policy makers on members’ interests. However that lobbying seems to be having less impact. Insurers’ no longer have the most convincing message. The implications of this are significant.…
Duncan Minty
Duncan Minty •
Failing to Prevent Fraud - the Implications for Insurers public
Accountability • 5 min read

Failing to Prevent Fraud - the Implications for Insurers

The UK government is introducing a new counter fraud law. It will be an offence for an organisation to fail to prevent fraud by an employee or someone working on their behalf. The range of activities covered is very wide. So what should insurers be looking at to avoid falling foul of this new law?…
Duncan Minty
Duncan Minty •
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