Despite the challenges of the pandemic, it has also kickstarted operational and societal changes that have showcased that Lloyd's can adapt to a more digital environment.
As the FCA signposting rules encourage insurers to direct potential business elsewhere, insurers may need to re-evaluate their cover.
London insurers write a diverse range of policies across lines of business and geographies that it’s difficult to ensure policy language is up to date and consistent.
Seventy per cent of travel insurers in Europe currently exclude pre-existing medical conditions.
Insurers in Ireland need to look at how they can use data from a wide variety of sources to significantly reduce the risk of fraud at the application and claims stage.