Westminster Business Forum

Next steps for the UK insurtech - adoption, growth and regulation

Morning, Thursday, 4th April 2019

Central London

THIS EVENT IS CPD CERTIFIED



This conference will bring out latest thinking on the development of insurance technology in the UK - looking at the progress and prospects for its adoption, the impact on the insurance market, priorities for realising consumer and economic benefits, and next steps for regulation.


Stakeholders and policymakers will discuss what is needed from Government, regulators and the sector itself following the Fintech Sector Strategy, and priorities for the joint government-industry Insurtech Board and Fintech Delivery Panel which aims to identify and reduce barriers to the growth of insurtech.


Attendees will also consider the implications of insurtech for consumers and priorities for regulators, following concerns around the use of personal data to price insurance products, ensuring the quality of service of new innovative platforms, and implications for financial and digital excluded consumers.      


The seminar also comes ahead of the interim report of the FCA’s general insurance pricing practices market study, which will examine the role that insurtech can play in improving consumer outcomes and assess how the regulatory framework can continue to adapt to protect consumers whilst also providing adequate flexibility to allow firms to grow and innovate.    


Delegates will discuss the impact of emerging insurtech trends and enablers on the wider insurance industry, looking at how the industry can seize the opportunities presented by emerging and disruptive technologies, such as AI, big data and blockchain - as well as supporting enablers for development and adoption, including closing the skills gap in the sector around coding and computing.


Further sessions will consider what needs to be done to establish the UK as the home of insurtech in light of expected ending of passporting rights, such as building on its existing advantages and continuing to establish new ‘fintech bridges’ with other financial centres and hubs to continue to attract international talent, increase domestic and inward investment and start-ups to the UK.          



Chairs

Faisal Rashid MP

Officer, All-Party Parliamentary Group for Insurance and Financial Services

Rt Hon the Lord Hunt of Wirral

Co-Chair, All-Party Parliamentary Group for Insurance and Financial Services

Speakers

Faith Reynolds

Panel Member, Financial Services Consumer Panel

Professor Meryem Duygun

Aviva Chair in Risk and Insurance, Nottingham University Business School, University of Nottingham

Nigel Brook

Partner, Clyde & Co

Paul Prendergast

Chief Executive Officer, Blink

Glynn Austen-Brown

UK Insurance FinTech Leader, PwC

Michael Whitfield

Managing Director, CPP Group UK

Sian Fisher

Chief Executive Officer, Chartered Insurance Institute