Sign up for webinar on managing the growing regulatory burden
A recent survey highlighted the increasing strain the insurance market is under.
According to the findings of the research from regtech firm REG Technologies nearly seven in 10 general insurance compliance professionals (69%) said their regulatory burden has increased in the past year, while two-thirds said red tape was slowing down the start of new business relationships – up from 47% in 2021.
And with the Financial Conduct Authority and Prudential Regulation Authority unlikely to ease up any time soon in terms of their demands on the market, insurers and managing general agents will need to assess how they are going to manage this workload, whilst maintaining their competitiveness and profitability.
With this in mind Insurance Post in association with REG Technologies are hosting a live interactive webinar on the 30th January at 11am where a panel of market experts will discuss the challenges insurers and MGAs of all shapes and sizes face in keeping on top of regulatory compliance; and how this could potentially be eased by the use of technology and tools.
Among the questions we plan to cover include:
- Which recent regulatory changes including the introduction of fair value assessments (Consumer Duty rules) have had the biggest impact on insurer and MGAs in terms of workload?
- How are insurers and MGAs managing the increased volumes of data that must be collected, analysed and reported to remain compliant and easily auditable?
- What are the biggest risks to businesses in terms of data protection and document retention today?
- What technologies and tools have made the biggest difference to date for insurers and MGAs in handling regulatory work, and the documentation that is involved; and what are they looking for in the future to reduce the burden and become more efficient?
- How can companies foster and maintain a pervasive compliance culture across their organisation?
Expert panel
Steve Folkard, chief risk and compliance officer, Jensten Group
Richard Turnbull, managing director, Collegiate Underwriting
Victoria Slade, head of sales, REG UK
Zoe Parsons, marketing manager, REG UK
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