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Take a Look at India: One of the fastest growing insurance markets in the world

Take a Look at India: One of the fastest growing insurance markets in the world

India's insurance market has soared to unprecedented heights in the past decade, experiencing double-digit growth and positioning itself as one of the world's fastest-growing sectors. This surge is fuelled by rising incomes, increased awareness, and strategic collaborations with cutting-edge RegTech. Navigating through intricate regulatory landscapes, India's insurers embrace challenges and innovation, influencing global trends...

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Consumer Duty: Challenges and Priorities for 2024

The Consumer Duty, enacted by the UK’s Financial Conduct Authority (FCA) on July 31st, 2023, represents a pivotal regulatory shift, mandating firms to prioritise customer interests and elevate outcomes. Applicable to all entities regulated by the FCA, spanning insurance firms, banks, and investment companies, the Duty extends across the spectrum of products and services offered to individual consumers and micro-enterprises. Since enforcement, adherence to the Duty has brought forth an array of challenges for firms subject to the new rules. With regulators imposing strict scrutiny, let’s explore the challenges around compliance with the Duty and how firms can overcome them...

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Upholding Integrity: Mitigating Financial Risks Through Supply Chain Data Management

In the financial services sector, where trust and integrity are paramount, the acquisition and management of data within the supply chain play a pivotal role in upholding regulatory compliance and thwarting financial risks like money laundering, terrorist financing, and other forms of financial crime. The importance of meticulous data gathering and oversight from entities in these chains cannot be overstated. Let's delve deeper into the criticality of this data, the challenges it poses, and strategies to navigate this intricate landscape...

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Beyond Paperless: Why Digitisation Alone Isn’t Enough for Business Transformation

For the last decade the push for paperless operations has been fervent. Countless businesses have embraced the digitisation of their once-manual, paper-based processes in a bid to modernise and streamline operations. The allure of going paperless is undeniable - reduced clutter, environmental benefits, and the promise of enhanced efficiency. However, the reality often falls short of these lofty expectations...

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Trading Insurance Internationally: Where Regulation Starts and Ends

The absence of standardised global regulations creates a challenge for international insurers that requires them to navigate diverse compliance standards across jurisdictions. This diversity directly impacts day-to-day operations, emphasising the need for meticulous understanding and effective risk mitigation strategies. Regulatory Technology (RegTech) emerges as a crucial ally, offering adaptable frameworks to seamlessly navigate and unify compliance measures, providing insurers with a robust solution for efficient and compliant international insurance trading.

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Death by Spreadsheet: Are Spreadsheets Killing Your Business?

For the last 40 years, spreadsheets have been an essential tool for managing and analysing critical information. However, their seemingly innocent simplicity can lead to a slew of problems that might be silently eroding your company's efficiency and competitiveness. In this blog post, we'll delve into the perils of over-reliance on spreadsheets and explore how RegTech can provide a lifeline for businesses drowning in data.

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Men’s Mental Health at Work: Breaking the Silence

In a world that often revolves around expectations of strength, resilience, and endurance, we often overlook the hidden crisis that is steadily engulfing the lives of men. Men's mental health issues are a growing epidemic, and it's crucial we shed light on this critical topic, raise awareness and acknowledge the importance of addressing the unique challenges men face regarding their mental wellbeing...

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Focus on ESG: What is Sustainability Reporting?

Sustainability has emerged as a paramount concern for insurance and financial services companies. Beyond mere corporate responsibility, sustainability now holds the key to mitigating risks and satisfying the ever-heightening expectations of stakeholders. At the heart of this commitment to Environmental, Social, and Governance (ESG) principles lies the practice of sustainability reporting—an essential tool for modern businesses seeking to make their mark in a responsible, ethical, and transparent manner...

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Where It All Started: Lloyd’s Reopens To Face To Face Trading, But Where Did It All Begin?

The Lloyd's market is one of the most iconic and influential institutions in the global insurance and reinsurance industry. Its history is a fascinating tale of innovation, resilience, and adaptability over its near 335-year reign. From humble beginnings to now the world’s leading market for specialist insurance, where did it all start?

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Navigating PEPs and Sanctions Risks: How RegTech Revolutionises Enhanced Due Diligence

In today's dynamic financial landscape, regulatory compliance is a necessity for regulated institutions worldwide. Among the myriad compliance challenges, managing risks associated with Politically Exposed Persons (PEPs) and sanctioned individuals demands rigorous scrutiny...

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