Insurers

A global survey by UserTesting, a provider of experience research, has revealed that whilst customers preferred to receive guidance from human insurance advisors, AI has potential to mitigate customer challenges and simplify processes, particularly during enrolment and provider selection.

According to research by UK premium finance company, Premium Credit, nearly three out of four personal lines insurance customers use some form of credit to pay for one or more policies, with half using credit to pay for car insurance.

Unethical behaviour can thrive within distribution chains in the insurance sector, particularly if the chains are complex. This article will explore the ways in which ethical risks may arise within the insurance distribution chain, and how this can be mitigated.

This article is the second of a two-part series exploring the FCA’s proposed new Consumer Credit Regulatory Return CR009 and will focus on what the enhanced reporting requirements proposals mean for credit broking firms and the data the FCA proposes to collect.

The Association of British Insurers’ (ABI) reveals its members contributed a record £18.5bn in tax to the UK’s public finances over the last financial year.

This article is the second of a two-part series. Last weeks’ article explored key findings from the FCA’ review in relation to firms’ self-assessments, annual reviews and their monitoring and oversight of ARs; this weeks’ article will explore the reviews findings in relation to firms’ approach to AR onboarding, termination and wind-down.

Consumer group Which? has called for the Financial Conduct Authority (FCA) to step in following its recent report, which revealed that pay-monthly customers were still facing higher insurance costs. 

The FCA has published a review report noting that, whilst Principals’ oversight of ARs has improved, some firms are taking a “tick-box approach” to compliance with the rules and relying on basic information, such as website checks or self-declarations from their ARs, to demonstrate effective oversight.

This article explores the implications of climate change for the UK insurance sector.