Our Director for General Insurance Mark Andrews discusses some of the challenges and opportunities for the sector with Insurtech UK’s James York.
The issue of dual pricing is at the top of the industry’s agenda, with the FCA expected to publish its final report and consultation on remedies in the first quarter of 2020. Mark expects a lot of changes in the sector as a result, and thinks that some of the insurance carriers might be caught out by the outcomes of the review.
But there are some opportunities too. The digital transformation the sector is going through offers insurance providers the chance to engage with their customers better.