PUBLICATION
Current issues in insurance and financial services - Spring 2024
14 May 2024
In our latest edition of current issues, we bring you insights into the UK insurance and financial services market, including:
- a look at the results from the Financial Lives Cost of Living Survey 2024
- an update on the scenario analysis of climate-related financial risks
- a discussion on the key challenges and opportunities of the Solvency UK reform
- the latest Fintech Feed podcast on generative AI in the insurance and financial services industry
- our first look at the CMI_2023 model release
- the recently released final guidence on anti-greenwashing rules.
Financial Lives 2024: Impacts of the increased cost of living
The results of the Financial Conduct Authority's (FCA's) Financial Lives Cost of Living Survey 2024 were published in April, showing that many adults are still struggling financially.
In our latest article, we highlight some of the key themes from the survey and outline the areas where insurers could do more to help customers achieve better financial outcomes.
An update on the scenario analysis of climate-related financial risks
In April, the Bank of England and Basel Committee on Banking Supervision released papers highlighting how scenario analysis helps financial firms understand climate-related risks.
Read our article, where we give our key takeaways from these papers, and discuss what Hymans Robertson have been doing to help educate clients on current modelling approaches.
Navigating the Solvency UK reform
Nick Ford is joined by Iain Macintyre and Marc Storan to discuss navigating the Solvency UK reform.
They discuss the key changes to the matching adjustment requirements, including challenges, risks and opportunities.
Fintech Feed: Generative AI in the insurance industry
In this episode of The Fintech Feed, Ross Bagley is joined by Matt Wreford and Dorota Zimmoch from Microsoft, and Dan McMahon from Hymans Robertson.
They discuss the recent developments in generative AI, it's impact on the insurance and financial services industry and how companies can get started.
First look at the CMI_2023 model release
The Continuous Mortality Investigation model is the most popular model used by UK insurers for predicting future mortality trends. After consulting on its core parameters, CMI_2023 was made available on 18 April.
Download our latest newsflash, where we take a first look at the model and the key updates.
Greenwashing and next steps for the insurance industry
In our latest blog, we look at the final guidance on the anti-greenwashing rule, published by the FCA last week.
We discuss the five key standards that sustainability claims must meet, changes to the anti-greenwashing guidance, how this guidance fits into the broader regulatory landscape and what actions insurers should take.
If you would like to discuss any of these topics with one of our specialists, please get in touch.
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