Insurtech UK welcomed FCA Head of Department Lisa Sturley to our Government Affairs Roundtable, kindly hosted by Grant Thornton.
Lisa championed innovation being driven by smaller firms, and presented the latest FCA structure and priorities to help insurtechs understand how best to interact with the regulator and their key areas of responsibility.
From an innovation perspective, Lisa explained the FCA’s interest covers how tech is being used internally by companies themselves - from insurers to insurtechs, as well as for the design, development and distribution of consumer-facing products. The FCA also continues to challenge itself on where and how to best adopt new technologies as part of its supervision and services.
Throughout the event Insurtech UK member firms had the opportunity to hear the latest approach to authorisations and supervision, to discuss innovation within insurance including the adoption and governance of artificial intelligence, and to debate how Consumer Duty expectations evolve at different stages from start-up to scaling.