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The FCA estimates the authorisation process for new insurtech ventures takes between three to four months – in reality it is taking up to 12 months
Regulator more willing to flex its muscles
Carriers are under pressure to look at Europe from a third country perspective as imminent changes to EU insurance rules further increase regulatory divergence from the UK, lawyers say
Reforms to unlock €90bn of capital while introducing simpler rules for smaller insurers
Assessing the reliability of third-party service providers will be challenging for insurers, with many carriers now outsourcing and operating in complex supply chain ecosystems
There is increasing appetite from African governments, regulators and local carriers to work with the international insurance market to tackle the major risks faced by the continent
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