Weekly News Roundup – 18th November

The benefits of using technology in insurance are undeniable. Provision of bespoke cover and the reduction of claims are just some of those but are companies who are implementing these tools taking into account an ethical framework when doing so? A recent article by WTW explores this challenge in greater detail. After the market turmoil caused by the recent mini budget, the rather muted Autumn statement did not cause any great surprises for the industry. Read on to find out more.

The rise of AI in insurance – a double edged sword (Source: Insurtech Insights)
AI can improve operational efficiency and drive profits but at what cost to the customers and their data?

What can insurers expect from a new phase of insurtech (Source: Majesco)
Insight from Swiss Re, Munich Re, Bold Penguin (an insurtech) reveals where the insurance industry is going, where insurers should be investing in tech and the roadblocks to innovation.

Autumn Statement 2022: UK chancellor unveils reforms to Solvency II regime (Source: Pinsent Masons)
Jeremy Hunt, the new UK chancellor, has pledged to reform the legacy EU Solvency II directive, although the impact is not expected to be game changing for now.

Why you should not be an insurtech (Source: Insurance Business Magazine)
There have been some industry veterans who have declared that being an insurtech is not ‘a la mode’, although funding remains strong. Read on to find out when being an insurtech works for a business and when it should be avoided.

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