FCA review finds ‘already consumer appetite for the use of agentic AI’
Artificial Intelligence may move insurance closer to the point of need and automate shopping and claims guidance, with impacts on intermediation and challenges for firms as they increase the level of AI autonomy.
These are part of the findings of the Financial Conduct Authority’s landmark review into impact of AI on retail financial services.
The watchdog launched 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.
Looking at insurance, among the potential market impacts of AI automated financial services it flagged embedded insurance, automated quote comparison, claims triage and
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