Law360, London (December 2, 2019, 12:36 PM GMT) -- An insurance trade association has warned its members that the Financial Conduct Authority is likely to follow up its work on differential pricing in the new year with an examination of the wider use of so-called big data.
The Association of British Insurers said the question is likely to be addressed alongside climate rules and concerns about Brexit concerns by insurance supervisors in 2020.
Big data is the subject the FCA will probably address next after it publishes “remedies” in the first quarter of the year for so-called dual pricing — in which long-term insurance customers pay disproportionately high premiums to subsidize loss-leading...
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