The UK is currently positioned as a strong contender in the global regulatory technology (regtech) sector, but it faces intense competition from financial hubs like New York, Singapore, and Dubai. To consolidate and extend this leadership, comprehensive strategies focused on fostering innovation,
Artificial intelligence (AI) is revolutionizing various industries, including the insurance sector, which has traditionally been slow to adopt new technologies. Historically seen as risk-averse and reliant on time-tested methods, insurers have often been hesitant to embrace innovations like AI.
In the United States, insurance companies often pose significant barriers to mental health care by labeling prescribed treatments as not medically necessary. This undermines professional recommendations and forces many mental health professionals out of insurance networks, making in-network care
ICICI Prudential Life Insurance has recently encountered a significant challenge following a Goods and Services Tax (GST) demand and penalty amounting to Rs 429 crore from the Maharashtra State Tax Department. This order was issued under Section 73 of the Maharashtra GST Act, 2017, and was received
The scrutiny and regulation surrounding the privacy of biometric data are intensifying. High-profile lawsuits and significant legal settlements are alerting businesses to the legal and financial risks they face if they fail to comply with biometric data privacy laws. This article examines these
The insurance industry in the United Kingdom is under the microscope again, thanks to a new report from the Financial Conduct Authority (FCA). Published on August 21, 2024, the report scrutinizes how well insurance providers and brokers are delivering fair value to their customers. Efforts have
The global auto insurance market is on track to experience significant growth over the next decade, driven by a combination of economic expansion, increasing vehicle numbers, and stringent regulatory requirements. This market is poised to nearly double in size, expanding from USD 735.39 billion in
Experiencing flood damage can be overwhelming, especially when you consider the financial impact and emotional toll it takes on homeowners. According to the Federal Emergency Management Agency (FEMA), even just an inch of water can cause as much as $25,000 in property damage, a staggering cost most
The Global Tech Insurance Business market is experiencing a period of rapid expansion driven by increased cyberattacks, data breaches, and technological advancements. As technology companies face unique risks like cyber liability and intellectual property infringement, the demand for specialized
Climate change is no longer just a talking point; it's a pressing reality that industries, particularly energy firms, face head-on. One of the profound impacts of climate change is the increased frequency and severity of natural catastrophes, which significantly disrupt business operations and
