The scale and pace of technological innovation in the last decade has brought about endless opportunities for insurance firms. From one-touch claims to straight-through-processing, insurers have upped their game.
With a growing reliance on technology, soaring customer expectations, increasing dependencies on supply chain and sheer pace of change, however, both the points of failure and likelihood of disruptions seem to have increased.
This and other factors such as the growing sophistication of cyber threats are leading to a regulatory shakeup for insurance firms.
This content sheds light on:
• The regulatory objectives of the FCA and the PRA.
• The proposed regulatory timeline.
• What the regulations mean for insurance firms.
• The steps insurers can take to effectively structure a resilience programme to align with the regulatory requirements.