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”.