Meeting with HM Treasury
On the 25th March, Insurtech UK met with HM Treasury’s Solvency II team to discuss our concerns with the application process for the PRA authorisation regime and ways in which it can be altered to support the unique needs of startups.
We think that it is important to pave the way for Insurtech UK members to become a full stack insurer. Having an insurtech insurer is an important milestone for the UK insurtech sector and will help improve competition and innovation within the broader market. HM Treasury have received our concerns and are working with us to ensure the process better appeals to startups. There will be a full consultation on this issue in April and Insurtech UK will be responding.