FCA research reveals AI usage levels among insurance consumers
When it comes to the future use of artificial intelligence, insurance ‘resonates the most’ with consumers who see ‘clear benefits’ in saving time, money and making better decisions, according to research commissioned by the Financial Conduct Authority.
The FCA published its landmark review today into the impact of AI on retail financial services, claiming it was the first work of its kind initiated by any regulator around the world.
It had opened the review, led by executive director Sheldon Mills, in January to assess the implications of advanced AI on consumers, retail financial markets and regulators by 2030 and beyond.
PollAs part of The Mills Review, it polled just over 5,000 people about “plausible near-future applications of AI” across
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insight
Broking Success: Gazelle Risks, Gary Williamson – Growing the core specialisms
Gary Williamson, founder and managing director of Gazelle Risks, has outlined plans to grow in the contractors market and how going through the same pain as its clients has became the firm’s pitch.
NBS swings for golf club insurance
Managing general agent NBS Underwriting has launched a specialist golf club insurance product to provide brokers with “access to tailored cover”.
Jensten buys Scottish broker Kelvin Smith
Jensten Group has bought Scottish broker Kelvin Smith Insurance, deepening its presence in the country after two deals in 2025.
Optio completes Gardian Marine buy
Managing general agent Optio has completed the purchase of fellow MGA Gardian Marine after securing all the necessary regulatory approvals.
FOI: Brokers make up almost 50% of cloned firm warnings over past decade
The Financial Conduct Authority has warned of 48 personal and commercial lines insurance intermediary clones in the past 10 years, a Freedom of Information by Insurance Age has revealed.
FCA headcount rises to 5,510
The Financial Conduct Authority grew group headcount from 5,379 to 5,510 its report and accounts for the year ended 31 March 2026 has revealed.
People Moves: 6 – 10 July 2026
Stay in the loop with the latest insurance personnel moves.
Aventum CEO calls out “questionable” rates
David Bearman, CEO of Aventum Group, has warned managing general agents that capacity providers may “wake up” after “questionable” rating action in certain lines.