Weekly News Roundup – 9th December

New AI regulation from the EU is arguably putting an end to innovation in insurance, says Insurance Europe, the European insurance and reinsurance federation. However, this follows a recent report from WTW who urged firms to think ethically when using such technology (see Weekly News Roundup -18th November for the full article). Clearly a balance is needed. Forrester, the research giant, has indicated a big insurtech market exit in the next 12 months, as funding appears to dry up.

EU Artificial Intelligence Act – is it unfair to insurers? (Source: Insurance Business Magazine)
Is this new regulation a step too far? This article explores the balancing of important oversight vs the restriction of critical innovation.

Many Insurtechs Exit the Marketplace, and Other 2023 Predictions From Forrester (Source: Insurance Journal)
Ellen Carney, principal analyst at Forrester predicts 25% of insurtechs will exit the market next year.

Munich Re, Cyber Security Unity And Lloyd’s Share Their Vision For The Future Of Cyber Insurance (Source: Intelligent Insurer)
A white paper featuring insight from industry experts examines what cyber insurance will look like next year and beyond.

FCA outlines stronger rules to protect consumers from rogue financial promotions (Source: FCA)
In a bid to put a stop to unfair or misleading financial promotions, authorised firms will have to “undergo new screening checks before they are allowed to approve”.

Latest News

Ready to take the next step?

Request a call back.

Let’s get the conversation started today.

Sign an NDA.

Take the first step in the next stage of your MGA business.