Big data: brokers are “doing it by the book”
Insurance sector unconcerned by FCA’s inquiry into how it handles customer data
Last month the Financial Conduct Authority (FCA) announced a call for ‘inputs’ on how the insurance sector uses big data. This preliminary investigation will source information from underwriters, brokers and distributors about how they use this type of data in the personal lines space. The regulator advised that it could lead to a more detailed market study.
However, the sector appears not to be worried by either the call for information or indeed the possibility of any subsequent investigation
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