Weekly News Roundup – 27th August

Still struggling to believe that September is only a few days away? Feel like there is still so much to do before the end of the year? Well, you are not alone when fretting about impending deadlines! The 1st of October is coming up fast and, for some companies, they face regulatory action if they haven’t adequately addressed product governance. The sands of time are also passing quickly by for the majority insurers regarding the fulfilment of their climate change goals. Although there is a little while to go, a new report urges everyone to pull together now to ensure these target dates aren’t missed. Find out more below.

FCA warns insurance firms over approaching deadline (Source: Insurance Business Magazine)
With just over a month to go until enhanced rules on product governance come into force, a recent FCA review has found various weaknesses at a significant number of firms.

When AI doesn’t work (Source: Insurance Thought Leadership)
Paul Carroll looks beyond the AI hype and highlights where there is still work to be done.

Tomorrow’s insurance is connected (Source: Insurance Innovation Reporter)
The author argues that there are 5 enduring core pillars of an insurance company that will only improve with technology.

Insurers need to accelerate exit from oil & gas industry to meet climate goals: report (Source: Insurance Journal)
The industry has made a climate change commitment but despite pledging to end coal-related activities, there is much to do on the oil and gas side of things.

Andrew Johnston: Lots more investment looking for a home labelled ‘insurtech’ (Source: Insurtech Insights)
Willis Re’s global head of insurtech explores why funding in insurtech is only going to increase but that the term itself might get diluted along the way.

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